Mumbai, Oct 23: Jio Platforms’ Rs 30,213-crore initial public offering (IPO) closed on Friday with approximately Rs 7.40 lakh crore in bids, including anchor demand, setting a record for investor applications in an IPO globally.
The issue attracted more than 13.8 million applications over three days and was subscribed more than 22 times by the close of bidding at 7 pm. Total demand comprised around Rs 4.90 lakh crore in non-anchor bids and Rs 2.50 lakh crore from anchor investors.
Institutional investors led the demand, with the Qualified Institutional Buyers (QIB) category subscribed 70.55 times. The Non-Institutional Investors (NII) portion was subscribed 14 times, while the quota reserved for eligible Reliance Industries shareholders was subscribed 7.60 times. The employee portion was subscribed 2.93 times.
Retail investors bid for more than 23 crore shares against approximately 8.5 crore shares reserved for the category, resulting in subscription of 2.72 times.
Despite the strong demand, the subscription multiple alone does not determine an individual investor’s chances of allotment. The outcome will depend on valid applications and the applicable allotment process.
Share allotment is scheduled for October 26, followed by credit to demat accounts on October 27. The shares are scheduled to list on the BSE and NSE on October 28.
Jio’s application tally surpasses the previous record held by Waaree Energies, which received 9.73 million applications in October 2024. The new tally represents an increase of approximately 42% over that benchmark.
The IPO attracted around 3.05 million applications on the first day, with the number exceeding 7.5 million by the end of the second day. Participation accelerated further on the final day. The historic close also coincided with the birthday of Akash Ambani, managing director of Jio Platforms, on October 23.
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