Jio Platforms IPO Creates Global Record With Over 1 Crore Applications, Draws USD 14.5 Billion in Demand

Jio Platforms’ initial public offering (IPO) has become the first public issue globally to receive more than one crore applications, news agency PTI reported on Friday, October 23, citing sources, as investor demand surged on the final day of bidding. The USD 3.2 billion IPO by billionaire Mukesh Ambani’s telecom and digital services company has attracted strong interest from institutional and retail investors, employees and shareholders.

The IPO, the largest in India’s history, has emerged as a major test of investor appetite for large public listings amid increased scrutiny of artificial intelligence-linked stocks. Subscription levels crossed six times the shares on offer by Friday. Assuming bids were largely placed at the upper end of the price band of INR 1,119 per share, total demand exceeded USD 14.5 billion, according to Reuters.

Jio Platforms IPO Sees Record Investor Demand

The strong response to the Jio Platforms IPO follows substantial interest from anchor investors, including the Abu Dhabi Investment Authority, BlackRock and Fidelity. Shares worth USD 854 million were reserved for these investors, with bids exceeding USD 25 billion on Monday. Govt Plans To Pare Stakes in 4 PSU Banks to 75% To Comply With SEBI Norms.

The IPO opened on Wednesday and was fully subscribed within two hours, marking an unusually rapid start for an Indian public issue. Subscription levels in most Indian IPOs typically build gradually, with institutional investors often placing bids closer to the closing deadline.

Jio Platforms IPO Valuation and Listing Date

The IPO values Jio Platforms at up to USD 108.3 billion, potentially making it one of India’s largest companies by market capitalisation when trading begins on October 28. Jio Platforms IPO Gets Strong Institutional Response; QIB Portion Fully Subscribed Within 30 Minutes.

Jio Platforms operates a mobile network serving more than 500 million users and counts Meta Platforms and Google parent Alphabet among its investors. The company is led by Akash Ambani, the eldest son of Reliance Industries chairman Mukesh Ambani.

Reliance Industries Shares Deliver Strong Long-Term Returns

Jio Platforms is part of Reliance Industries, which is widely viewed by Indian investors as a long-term wealth creator. According to LSEG data, Reliance Industries shares have delivered returns of around 900% since 2006, outperforming the benchmark Nifty index’s return of 685% over the same period.

The record number of applications for Jio Platforms’ IPO highlights the scale of investor interest in the company as it prepares to enter the public markets. Its valuation, listing performance and ability to sustain investor confidence will be closely watched following the historic offering.

(The above story first appeared on LatestLY on Oct 23, 2026 03:47 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).