Reliance Industries’ Rs 30,213-crore Jio Platforms IPO was fully subscribed within minutes of opening, with institutional investors driving demand; the retail portion remained undersubscribed at 0.67x on the first day.
The Rs 30,213-crore initial public offering (IPO) of Jio Platforms, Reliance Industries’ digital services arm, attracted strong investor demand on the first day of bidding, with the issue subscribed nearly three times by Wednesday afternoon.
The IPO was subscribed 2.96 times overall as of 4:14 pm on October 21, according to subscription data. Qualified institutional buyers (QIBs) led the demand, with their reserved portion subscribed 8.97 times.
The non-institutional investor (NII) category was subscribed 1.48 times, while the retail individual investor portion received bids for 0.67 times the shares reserved for the segment, indicating that retail demand had yet to fully cover the allocation.
Investors bid for approximately 58.54 crore shares against 19.75 crore shares on offer, taking overall subscription close to three times on Day 1.
Within the NII category, applications above ₹10 lakh were subscribed 1.61 times, while those below ₹10 lakh were subscribed 1.21 times. The employee quota was subscribed 1.25 times, and the shareholders’ category received 1.29 times subscription.
Jio Platforms IPO: Key details
Jio Platforms opened its three-day public issue on October 21, with bidding scheduled to close on October 23. The company has set a price band of Rs 1,065–Rs 1,119 per equity share.
The lot size is 12 shares, requiring retail investors to invest a minimum of Rs 13,428 at the upper end of the price band.
The IPO crossed the full-subscription mark at 10:36 am on the opening day, making it one of the fastest mega-IPOs to achieve full subscription in the Indian capital market.
Institutional participation will remain a key indicator of investor appetite as bidding progresses over the next two days. The retail category’s subscription levels will also be closely watched as investors assess demand for the much-awaited public issue.