The ₹30,213 crore Jio Platforms IPO has been subscribed 6.89 times, with the QIB category attracting 14.38 times bids. Subscription closes at 7 PM on October 23.
Highlights
- Jio IPO becomes the first IPO in Indian stock market history to cross 1 crore applications.
- The IPO breaks Waaree Energies’ previous record of 97.34 lakh applications.
- The ₹30,213 crore public issue has been subscribed 6.89 times.
- Qualified Institutional Buyers (QIBs) category subscribed 14.38 times.
Jio IPO Makes History as Applications Cross 1 Crore
Mumbai, October 23, 2026: Jio Platforms’ ₹30,213 crore initial public offering (IPO) has created history by becoming the first public issue in the Indian stock market to receive more than 1 crore applications.
According to figures available until noon on Friday, the IPO had received 1,00,15,118 applications, surpassing the previous record held by Waaree Energies.
The company also described the milestone as a world record. However, this claim has not been independently verified.
Strong investor participation has pushed the overall subscription to 6.89 times, with institutional investors showing particularly high demand.
Jio Breaks Waaree Energies’ IPO Record
Before Jio, Waaree Energies held the record for the highest number of IPO applications in India. Its October 2024 public issue attracted approximately 97.34 lakh applications.
Jio surpassed that milestone on the third and final day of bidding.
The IPO received around 30.5 lakh applications on the first day. By the end of the second day, the number had crossed 75 lakh, before exceeding the historic 1 crore mark on Friday.
Institutional Investors Lead Subscription
The IPO has witnessed strong demand across all major investor categories.
The Qualified Institutional Buyers (QIB) category has been subscribed 14.38 times, reflecting substantial participation from large institutional investors.
The Non-Institutional Investors (NII) category has attracted 9.38 times subscription, while the retail investor category has been subscribed 2.07 times.
The shareholder quota has been subscribed 5.68 times, while the portion reserved for Reliance employees has received 2.48 times subscription.
These figures indicate that every major investor category has been fully subscribed.
IPO Subscription Rises from 3.16 to 6.89 Times
Jio Platforms opened its IPO for subscription on October 21.
The public issue received 3.16 times subscription on the opening day, increasing to 5.57 times by the end of the second day.
By noon on October 23, the overall subscription had climbed to 6.89 times.
The strong response highlights investor interest in Jio Platforms and its position in India’s digital services market.
Final Day of Jio IPO Bidding
Friday, October 23, marks the final day for investors to participate in the IPO.
According to the announcement, bidding will remain open until 7 PM.
With several hours remaining before the subscription window closes, the total number of applications and subscription figures could increase further.
The final subscription data will provide a clearer picture of investor demand for one of India’s largest public offerings.
