The IPO at a glance
| Detail | Jio Platforms IPO |
|---|---|
| Company | Jio Platforms Ltd (Reliance Industries' digital and telecom arm) |
| Bidding dates | 21–23 October 2026 |
| Price band | ₹1,065 – ₹1,119 |
| Final issue price | ₹1,119 |
| Lot size | 12 shares (₹13,428) |
| Issue size | ₹30,213 crore, all new shares |
| Allotment | 26 October |
| Shares in demat | 27 October |
| Listing | 28 October, NSE and BSE |
| Value at issue price | about ₹10.3 lakh crore (about $108 billion) |
Unusually for a giant IPO, no existing shareholder sold any shares. Reliance, Meta (Facebook's parent) and Google all kept their stakes. Jio issued only new shares, so all the money goes to the company — about ₹27,500 crore of it to repay Reliance Jio's loans.
How did it perform? The subscription numbers
The IPO was fully subscribed within about two hours of opening on 21 October. By the close on 23 October:
| Investor group | Times subscribed (approx.) |
|---|---|
| Big institutions (QIB) | about 70 times |
| Wealthy individuals (NII) | about 14 times |
| Reliance shareholders' quota | about 7.6 times |
| Employees | about 2–3 times |
| Retail investors | about 2.7 times |
| Overall | about 21–22 times |
Different trackers give slightly different final figures (21.4x vs 22.2x); the official exchange number may differ a little.
What this means: demand from big funds was enormous, while retail investors bid about 2.7 times their quota. Because retail demand is higher than the shares available, not every small investor will get shares: SEBI's rules give each lucky retail applicant one lot (12 shares), chosen by a computerised lottery.
Before the IPO opened, anchor investors — global funds such as BlackRock, Fidelity, GIC and Norway's sovereign fund, plus LIC and Indian mutual funds — had already put in ₹8,110 crore.
The records it broke
- Biggest IPO in India by size: ₹30,213 crore, beating Hyundai (₹27,870 crore, 2024) and LIC (about ₹21,000 crore, 2022).
- Biggest total bids: about ₹4.9 lakh crore, beating LG Electronics India's ₹4.41 lakh crore.
- Most applications: more than 1.35 crore, beating Waaree Energies' 97 lakh.
How to check your allotment
Allotment is decided on 26 October. To check whether you got shares:
- Registrar's website (KFin Technologies) — open the KFintech IPO status page, choose Jio Platforms, and enter your PAN or application number.
- BSE website — under Investors → Application status, choose Equity, select Jio Platforms, and enter your PAN.
- NSE website — use the IPO bid verification page with your PAN and application number.
- Your bank or broker app — if your UPI money block is released, you did not get shares; if it is debited, you did.
Shares should appear in your demat account on 27 October.
What happens on listing day?
The shares start trading on Wednesday, 28 October. The grey market — an unofficial, unregulated market — has suggested a listing price about 20% above the issue price, but grey-market numbers are often wrong and have no official status. The real answer comes on Wednesday morning.
The listing also matters for Reliance Industries. Its shares rose about 3% when the price band was announced but are still well below their January high, and some analysts warn that Reliance could now trade at a "holding company discount".
We will update this article after listing with the opening price, the listing gain or loss, and how the shares closed on day one.
This article is for information only and is not investment advice. Sources: BusinessToday (26 Oct 2026), Chittorgarh, Mint via TradingView (24 Oct 2026), Quartz, BW Businessworld and The Week.
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