Jio Platforms’ ₹30,213-crore share sale attracted more than 13.8 million applications and bids worth about ₹7.40 lakh crore, setting a reported global record for IPO demand ahead of its October 28 listing.
Jio Platforms’ ₹30,213-crore initial public offering closed on Friday with demand that far outstripped supply, drawing about ₹7.40 lakh crore in bids, including anchor interest, and setting what appears to be a global record for IPO applications, according to reporting from Greater Kashmir and other Indian financial outlets. The issue attracted more than 13.8 million applications over three days, underscoring the scale of investor enthusiasm for one of India’s most closely watched market listings.
Institutional money drove much of the frenzy. Greater Kashmir said qualified institutional buyers subscribed 70.55 times, while non-institutional investors bid 14 times their reserved portion. The quota for eligible Reliance Industries shareholders was subscribed 7.60 times, the employee segment 2.93 times, and retail investors bid for more than 23 crore shares against about 8.5 crore reserved, translating into a 2.72 times subscription.
The pace of demand was rapid from the outset. The Economic Times reported that the issue drew more than 1 crore applications, a level it said had never before been reached by a public offering worldwide. Moneycontrol and LiveMint said the offer was more than 20 times subscribed overall, with bids climbing sharply through the final day after a strong start that saw the issue achieve full subscription quickly on opening day.
Even so, the final allocation picture remains uncertain for individual applicants. As Greater Kashmir noted, subscription figures do not determine how many shares any single investor receives; allotment depends on valid applications and the applicable draw or allotment method. Share allotment is due on October 26, demat credit on October 27, and trading is scheduled to begin on the BSE and NSE on October 28.
The size of the response also places Jio in a narrow global bracket. Moneycontrol said the offering is India’s largest share sale to date, while the same outlet reported that the company’s listing would push it into the rare club of founder-led businesses valued at more than $100 billion at the time of their IPO. That places the debut among the most significant market events in India this year, with investor demand reflecting both confidence in the business and the broader appeal of large-scale domestic listings.
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