Jio IPO Sets Record with Over 10 Million Applications

Jio Platforms’ ₹30,213 crore IPO has created history by becoming the first Indian public issue to attract more than 10 million applications. By noon on October 23, the final day of bidding, the issue had received 10.02 million applications and was subscribed 6.89 times.

The previous record belonged to Waaree Energies, which received 9.73 million applications in October 2024. Institutional investors showed the strongest demand, with the QIB category subscribed 14.38 times, followed by non-institutional investors at 9.38 times. The retail portion was subscribed 2.07 times, employees’ quota 2.48 times, and the quota for eligible Reliance Industries shareholders 5.68 times.

The IPO opened on October 21, receiving around 3.05 million applications on the first day and crossing 7.5 million by the end of the second day. Bidding was scheduled to close at 7 pm on October 23, with applications potentially increasing further before the deadline.