Jio Platforms IPO drew bids 22 times the offer size ahead of October 28 listing
The Rs30,213 crore Jio Platforms IPO closed with 22.19x subscription, led by QIB demand of 70.55x. Shares are set to list on BSE and NSE on October 28.
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what happened
The initial public offering of Jio Platforms, the digital and telecom unit of Reliance Industries, has closed its subscription period. The Rs30,213 crore issue drew bids for 421.87 crore shares against 19.75 crore on offer, a total subscription of 22.19 times over three days. Institutional demand was the strongest, with the qualified institutional buyers portion subscribed 70.55 times, the non-institutional category 14 times and the retail segment 2.72 times.
According to the tentative timetable, allotment will be finalised on October 26 and shares will be credited to demat accounts on October 27. Trading on BSE and NSE is scheduled to start on October 28 at 10 am. The price band was Rs1,065 to Rs1,119 per share, and the issue was entirely fresh, with no offer-for-sale component. Per the red herring prospectus, Rs27,500 crore of the proceeds will repay borrowings of its wholly owned subsidiary Reliance Jio Infocomm.
why it matters
Media reports cite a grey market premium of Rs250, which would imply a level above the upper price band. This is an unofficial indicator and not a confirmed listing price, and the actual debut will depend on demand and trading conditions. For markets, the size of the deal and the strength of institutional demand are the main points to watch.
market impact
Indian equities and Reliance Industries: a large listing and strong demand may affect liquidity and sentiment across the sector.
tags
instruments
sources
- Reliance Jio Platforms IPO GMP, allotment date, listing date, time, overall subscription status; QIB, NII, Retail, RIL — Moody's, 24 October 2026 at 07:43 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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