Demand for Ambani's Jio IPO climbs to seven times the shares on offer
Bids for Mukesh Ambani's $3.2 billion Jio Platforms listing reached over $16 billion on the final bidding day, according to Reuters, citing exchange data.
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what happened
Bids for Jio Platforms, the telecom and digital arm of Mukesh Ambani's Reliance Industries, kept climbing on Friday, the last day of the offering. Reuters reports that public subscriptions had passed seven times the number of shares available by that point.
Assuming most orders were placed near the top of the 1,119-rupee price band, total demand has topped $16 billion. Anchor investors including Abu Dhabi Investment Authority, BlackRock and Fidelity sought their reserved $854 million portion with orders worth more than $25 billion. The retail portion was covered twice, the employee quota 2.5 times and the Reliance shareholder quota 5.7 times. Trading is set to begin on October 28, with the valuation at up to $108.3 billion.
why it matters
As India's largest IPO on record, the deal is being watched as a gauge of investor willingness to back big listings while AI-linked shares face closer scrutiny. Many Indian investors regard Reliance as a long-term wealth creator, so the response to this offering may also shape sentiment toward the wider group.
market impact
Indian equities and Reliance Industries: strong demand for a large listing points to healthy appetite for India's telecom and digital assets
tags
instruments
sources
- Ambani's $3.2 billion Jio Indian IPO lures investors as bids surge on final day — Reuters, 23 October 2026 at 06:26 UTC
- Ambani's $3.2 billion Jio Indian IPO lures investors as bids surge on final day — Reuters, 23 October 2026 at 07:04 UTC
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