Jio IPO subscription: Jio Platforms Ltd’s Rs 30,213-crore initial public offering (IPO) received bids worth more than Rs 50,000 crore by mid-afternoon on Wednesday.Investors subscribed to 2.35 times the shares available on the first day. The issue had already set a record by becoming India’s fastest IPO to achieve full subscription, crossing that mark within 100 minutes of opening.Data from the stock exchanges, updated at 2:45 PM, showed bids for 46.50 crore shares against the 19.75 crore shares on offer.
Jio IPO sets new records
The response establishes a new record for the speed at which an Indian public issue has attracted subscriptions, with institutional investors accounting for the bulk of demand for what is set to be the country’s largest-ever IPO.Also Read | Jio IPO, India’s largest public issue, opens for subscription: Price band, GMP to brokerage views – top 10 things to knowThe speed of Jio’s IPO subscription sets it apart from other large public offerings in India. Bajaj Housing Finance’s issue was fully subscribed by 2 pm on its opening day. LG Electronics India’s IPO, meanwhile, reached full subscription by the end of its first day in 2025. Hyundai Motor India’s Rs 27,870-crore offering had received bids for only 18 per cent of the shares on offer by the close of its opening day in 2024.Jio’s issue also differs in structure from the Hyundai Motor India and LG Electronics IPOs, both of which consisted entirely of offers for sale by existing shareholders. Jio Platforms, by contrast, plans to issue up to 27 crore fresh shares. The money raised through this component will go to the company rather than to shareholders disposing of their stakes.
Jio IPO subscription status
The quota set aside for qualified institutional buyers (QIBs) attracted bids for 7.09 times the shares reserved for the category. Investors in this segment bid for 34.77 crore shares against an allocation of 4.90 crore shares.Domestic financial institutions, including banks and insurance companies, sought 16.98 crore shares, while foreign institutional investors placed bids for 14.97 crore shares. Mutual funds applied for another 2.02 crore shares.Interest also picked up among non-institutional investors, whose reserved portion was subscribed 1.03 times. Retail participation, however, remained below the available allocation, with the category subscribed 0.58 times.Bids were received for 4.91 crore shares against the 8.50 crore shares reserved for retail investors. The employee quota was subscribed 1.15 times, while the portion earmarked for shareholders received bids for 1.12 times the shares available.The shares have been priced between Rs 1,065 and Rs 1,119 apiece. At the upper end of this range, the IPO values Jio Platforms at approximately $108 billion. The issue will close on October 23 and is expected to overtake Hyundai Motor India’s offering as India’s largest public issue by value.The strong response from institutional investors follows substantial demand from anchor investors earlier in the week. On Monday, Jio Platforms allotted shares worth around Rs 8,110 crore to 212 anchor investors at Rs 1,119 apiece. People familiar with the matter said bids for the anchor allocation exceeded Rs 2.5 lakh crore.
