🇮🇳 Trending in India · 24 October 2026
Jio Platforms IPO: India's largest-ever public offer explained
What is Jio Platforms?
Jio Platforms is the telecom, cloud and AI arm of Mukesh Ambani's Reliance Industries. Its business is built on the Reliance Jio 4G and 5G mobile network, and it also offers home broadband and JioAirFiber. Its Managing Director, Akash Ambani, has said the company expects technology, AI and cloud services to drive its growth beyond telecom.
What is an IPO?
An Initial Public Offering (IPO) is when a company sells its shares to the public for the first time, so that it can be listed on a stock exchange. Jio's IPO is entirely a 'fresh issue' of 27 crore new shares, with no 'offer for sale' (OFS) by existing shareholders. That means all the money raised goes to the company itself, not to the current owners.
The key numbers
The price band was ₹1,065 to ₹1,119 per share, and the minimum bid was one lot of 12 shares (₹13,428 at the top price). At about ₹30,213 crore, it is India's largest IPO ever, beating Hyundai Motor India's 2024 issue. At the top of the price band, Jio Platforms is valued at roughly ₹10.3 lakh crore.
A record-breaking response
By the end of bidding on October 23, the issue was subscribed 22.19 times. Qualified Institutional Buyers (QIBs) bid for 70.55 times their share, non-institutional investors 14 times and retail investors 2.72 times. It became the first IPO in the world to cross one crore applications, beating the earlier record of about 97 lakh set by Waaree Energies.
What happens next
The basis of allotment is expected to be finalised on October 26, 2026, and the shares are expected to list on the NSE and BSE on October 28, 2026. Before the public issue opened, large anchor investors were allotted shares, including the Abu Dhabi Investment Authority, BlackRock, Fidelity and LIC.
Quick points
Quick quiz
1. Before Jio Platforms, which company held the record for India's largest IPO (2024)?
2. Jio Platforms' IPO was entirely a 'fresh issue'. What does that mean?
3. Jio's IPO became the first in the world to cross how many applications?
Sources
- Jio Platforms IPO Date, Price, GMP, Review, Details - Chittorgarh
- Jio's IPO sets world record, becomes first to receive over 1 crore applications - The Tribune
- Jio Platforms' Record $3.2 Billion India IPO Pulls Over $25 Billion in Anchor Demand - BigGo Finance
- Jio Platforms IPO crosses world record 1 crore applications - The Federal
- Jio Platforms Ltd. IPO subscription status - Trendlyne
