Home / Business and Economy / Jio IPO: India's Biggest Ever Issue Hits Record Demand
Jio IPO: India's Biggest Ever Issue Hits Record Demand
23 Oct
Summary
- Jio's Rs 30,213 crore IPO is India's largest ever.
- Qualified institutional buyers subscribed 12.87 times.
- Overall subscription reached 5.36 times by Day 2.
Jio Platforms has established a new benchmark in India's primary market with its Rs 30,213-crore Initial Public Offering (IPO), poised to be the country's largest ever. The issue attracted a notable 12.87 times subscription from Qualified Institutional Buyers (QIBs), exceeding the demand seen in the National Stock Exchange's (NSE) IPO. Overall subscription levels crossed 5.36 times by the second day of bidding.
The IPO, which is open until October 23, 2026, has garnered substantial interest beyond institutional investors. Non-institutional investors subscribed 5.60 times their quota, while retail individual investors subscribed 1.50 times. This broad-based demand, coupled with a strong grey market premium of approximately 22.25%, indicates positive investor sentiment ahead of the stock's market debut.
Brokerage firms have largely recommended subscribing to the Jio Platforms IPO. They cite the company's leadership in India's telecom sector, its expanding presence in home broadband, and potential growth in areas like artificial intelligence. The IPO price band is set between Rs 1,065 and Rs 1,119 per share, with shares expected to list on the BSE and NSE on October 28, 2026.
