Summary:
Jio Platforms IPO was subscribed 3.16 times on Day 1, led by qualified institutional buyer demand of 9.42 times. Retail subscription stood at 0.73 times. The issue closes October 23, with allotment scheduled for October 26 and listing expected October 28.
The initial public offering (IPO) of Jio Platforms Limited was met with a strong response from investors and was fully subscribed within 100 minutes of opening on Wednesday, October 21, 2026. On Day 1, the overall subscription was at 3.16 times with bids for over 62.34 crore shares against 19.75 crore shares up for grabs.
Institutional investors led the demand, but retail participation was less than the full subscription.
Jio IPO Day 1: Bidding dominated by institutional investors
Reliance Industries Limited’s digital services arm Jio Platforms IPO opened on October 21 and will close on October 23.
Qualified Institutional Buyers (QIBs) subscribed 9.42 times the portion set aside for them, bidding for about 4.90 crore shares against 46.15 crore shares on offer.
Non-institutional investors (NIIs) got subscription of 1.68 times and retail individual investors got subscription of 0.73 times of their allocation.
IPO Subscription Category-wise As on: October 21, 2026 6:57 PM
| Investor Category | Subscription |
| Qualified Institutional Buyers | 9.42x |
| Non-Institutional Investors | 1.68x |
| Retail (Retail Investors) | 0.73x |
| Employees | 1.36x |
| Shareholders | 1.46x |
| Overall | 3.16x |
The difference between institutional and retail subscriptions is a sign that big investors led the demand on day one. Retail participation is subject to change for the remainder of the subscription period.
Jio IPO Price Band, Issue Size & Important Details
Jio Platforms IPO has set price band at ₹1,065-₹1,119 per equity share. The issue is a fresh issue of up to 27 crore shares and there is no offer-for-sale component.
The company plans to use the proceeds mainly to repay certain borrowings of its subsidiary Reliance Jio Infocomm Limited and for general corporate purposes.
The minimum retail application is 12 shares, which would require ₹13,428 at the upper price band. The allotment basis is scheduled for October 26, and listing on the NSE & BSE is expected on October 28.
Prior to the public issue, Jio Platforms raised about ₹8,110 crore from its anchor investors’ allocation.
Jio Platforms FY26 Financials
Jio Platforms reported revenue from operations of ₹1,46,885 crore in FY26, up 14.6% YoY.
EBITDA increased 18.8% YoY at ₹76,255 crore and profit after tax was up 15.1% at ₹30,049 crore. Its EBITDA margin rose to 51.9%.
The company offers mobile connectivity, 5G, fixed broadband and digital services. It has a large subscriber base which provides a good base for generating revenues but spectrum costs, network investments and competitive pricing are important considerations.
Why did Reliance Industries shares surge after the IPO opened?
Reliance Industries shares rose in Wednesday’s session on strong institutional demand for Jio Platforms.
The stock touched an intraday high of around ₹1,234.60 on the BSE, climbing around 2.64% from its previous close. But gains were trimmed later, with the stock ending at ₹1,207.30, up around 0.37%.
The IPO gives a distinct valuation in the market for Reliance’s digital business, which could help investors value its contribution to the parent company.
There is no exchange-traded share-price movement to report as Jio Platforms itself is not yet listed.
What Comes Next?
The IPO will remain open till October 23, 2026. The institutional segment is already very well covered and the focus will now shift to retail participation and final demand by category.
The October 28 listing will set the first publicly traded share price for Jio Platforms and its future performance will depend on earnings growth, operating costs and the ongoing expansion of its digital services business.
