Jio Platforms, in which Reliance owns a 66.4% stake, launched its IPO on Wednesday, October 21, 2026 seeking to raise about Rs 30,213 crore at the upper end of its price band of Rs 1,065-1,119 per share. The offering, comprising entirely fresh shares, will close today, October 23.
Jio Platforms will use up to Rs 27,500 crore of the proceeds to repay borrowings at its wholly owned telecom subsidiary, Reliance Jio Infocomm Ltd, with the remaining funds available for growth capital expenditure and working capital needs.
Investors bid for more than 5.5 times the shares on offer, making Jio Platforms Ltd's Rs 30,213-crore IPO the highest-value bid among Indian IPOs that raised more than Rs 15,000 crore, based on available figures.
The portion reserved for qualified institutional buyers was subscribed 13.29 times, with bids for 65.14 crore shares against 4.90 crore shares on offer.
The employee reservation was subscribed 2.10 times, while the shareholder reservation portion was subscribed 4.05 times.
Within the QIB category, foreign institutional investors bid for 222.91 crore shares, domestic financial institutions for 344.09 crore shares, and mutual funds for 42.33 crore shares.
The JIO listing is scheduled for October 28.
