Ambani pulls off a blockbuster: Jio IPO makes 13 records, rewrites Dalal Street

Benchmarks Nifty22,558.95-190.8FEATURED FUNDS★★★★★Motilal Oswal Midcap Fund Direct-Growth5Y Return18.23 % Invest NowFEATURED FUNDS★★★★★UTI Aggressive Hybrid Fund Regular Plan-Growth5Y Return8.47 % Invest NowEnter search text:

The Economic Times daily newspaper is available online now. Read Today's Paper Ambani pulls off a blockbuster: Jio IPO makes 13 records, rewrites Dalal Street historyETMarkets.comLast Updated: Oct 28, 2026, 09:31:00 AM ISTSynopsis

Jio Platforms celebrated a remarkable achievement with its IPO, raising Rs 30,188 crore and drawing an unprecedented wave of investor interest. Over 1.38 crore applications poured in, breaking previous records for both institutional bids and public participation in Indian IPOs. The shares were issued solely as new equity, reinforcing the strong appeal and confidence in the Indian market offerings.

Listen to this article in summarized format

Loading...×Mukesh Ambani's Jio Platforms has set 11 records and category-specific benchmarks in India's primary market with its Rs 30,188 crore IPO, attracting cumulative investor demand of Rs 7.4 lakh crore and more than 1.38 crore applications. The country's largest IPO has broken previous records in issue size, institutional bidding, public demand and investor participation.

Track live listing updates here

The three-day offering, which closed on October 23, received public bids worth Rs 4.9 lakh crore, while the anchor book attracted interest of Rs 2.5 lakh crore. The issue was subscribed 22.19 times overall, with qualified institutional buyers (QIBs) subscribing 70.55 times their allotted shares.

The IPO received 1.38 crore applications, surpassing the previous Indian record of 97.33 lakh applications. The issue was also fully subscribed within 100 minutes of opening.

The records and category benchmarks are drawn from exchange subscription figures, publicly available data and compilations by Safal Capital and Investoyard.

Live Events

Here are the 11 records and benchmarks set by Jio's public offering.

1) India's largest IPO at Rs 30,188 crore

Jio Platforms surpassed Hyundai Motor India's Rs 27,870 crore IPO in 2024 to become the largest public offering in India's capital market history. The final issue value stood at Rs 30,188 crore after accounting for the employee discount, compared with the headline offer size of Rs 30,213 crore calculated at the upper price band of Rs 1,119.

2) Largest IPO comprising entirely fresh shares

Jio also became India's largest IPO consisting entirely of newly issued equity shares. The company issued 27 crore fresh shares without an offer-for-sale component, meaning existing shareholders, including Reliance Industries, Meta and Google, did not sell shares through the offering.

Jio plans to use up to Rs 27,500 crore of the proceeds to repay or prepay borrowings at Reliance Jio Infocomm, with the balance allocated to general corporate purposes.

3) Highest public IPO demand at Rs 4.9 lakh crore

Jio attracted public bids worth Rs 4,90,415 crore, exceeding the previous Indian record of around Rs 4.39 lakh crore set by LG Electronics India's IPO in 2025. Investors bid for 438.26 crore shares against 19.75 crore shares available in the public portion, resulting in an overall subscription of 22.19 times.

This record excludes anchor investor demand, allowing a like-for-like comparison with earlier public offerings.

4) Highest QIB demand at Rs 3.87 lakh crore

Institutional investors accounted for the largest share of Jio's public IPO demand. The QIB category received bids worth Rs 3.87 lakh crore, surpassing the previous reported record of Rs 3.86 lakh crore.

The institutional portion was subscribed 70.55 times, reflecting demand from domestic mutual funds, insurance companies, foreign portfolio investors and other qualified institutions.

5) Highest shareholder-quota bids at Rs 19,000 crore

Reliance Industries shareholders placed bids worth Rs 19,000 crore for shares reserved under the shareholder category. This exceeded the previous reported record of Rs 9,350 crore, set by Bharat Coking Coal's IPO in January 2026.

Jio had reserved shares worth up to Rs 2,500 crore for eligible Reliance Industries shareholders. The category was subscribed 7.60 times.

6) Highest-ever IPO applications in India

Jio received more than 1.38 crore applications, breaking the previous record of 97.33 lakh applications held by Waaree Energies. The offering became the first Indian IPO to cross the one-crore application mark.

The scale of participation was significant given that Jio's offering was substantially larger than most earlier IPOs that attracted high application volumes.

7) Most retail applications

Retail investors submitted more than 1.05 crore applications, according to figures reported by CNBC-TV18, setting a new Indian record for the category. The retail portion attracted bids worth nearly Rs 26,000 crore and was subscribed 2.72 times.

The minimum application size was 12 shares, requiring an investment of Rs 13,428 at the upper issue price.

8) Most shareholder-category applications

Jio received more than 21 lakh applications from eligible Reliance Industries shareholders, exceeding previous reported levels for the category. The strong response reflected participation from Reliance Industries' existing shareholder base, which was eligible to apply under a separate reservation category.

9) Highest small-HNI application count

The small high-net-worth investor category received more than 5.75 lakh applications, surpassing the previous reported benchmark of 4,99,825. This category covers non-institutional applications between Rs 2 lakh and Rs 10 lakh.

Small-HNI investors subscribed 10.22 times their reserved portion, with bids worth nearly Rs 13,900 crore.

10) Highest large-HNI application count

Applications from large high-net-worth investors crossed 3.5 lakh, exceeding the previous reported benchmark of 2,71,403. The category, which covers applications exceeding Rs 10 lakh, attracted bids worth more than Rs 43,200 crore.

Large-HNI demand reached 15.89 times the shares reserved for the category.

Jio's IPO was fully subscribed within 100 minutes of opening on October 21, establishing a new reported benchmark among India's mega public offerings. The qualified institutional buyer portion, worth around Rs 5,500 crore, was fully subscribed within the first 10 minutes.

By the end of the first day, the overall issue had been subscribed 3.16 times, with institutional demand leading the response.

12) Rs 7.4 lakh crore demand, Rs 2.5 lakh crore anchor interest

Beyond these records, Jio generated cumulative demand of Rs 7.4 lakh crore across its anchor and public book-building processes. The anchor book alone attracted interest worth Rs 2.5 lakh crore, more than 30 times the Rs 8,110 crore eventually allocated to anchor investors.

The company allocated shares to 212 investor accounts and schemes, with participation from global asset managers, sovereign wealth funds, domestic mutual funds, insurers and pension funds.

The Rs 7.4 lakh crore figure includes unsuccessful bids and expressions of interest in the anchor process. It represents cumulative demand rather than the amount raised by the company.

Among public investor categories, high-net-worth individuals placed bids worth Rs 57,109 crore, retail investors nearly Rs 25,867 crore, existing shareholders Rs 19,000 crore and employees over Rs 1,500 crore.

Demand from these four categories collectively exceeded Rs 1 lakh crore. Employee participation was another notable feature, with more than two lakh applications received under the reservation category.

13) Fourth company to achieve valuation of $100 billion

Jio Platforms is set to become the fourth company globally, after businesses such as Meta, Alibaba and SpaceX, to achieve an equity valuation of more than $100 billion at the time of its IPO.

Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and his ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclosures here.
Add as a Reliable and Trusted News Source Add Now!
(You can now subscribe to our ETMarkets WhatsApp channel)
Read More News onreliance industriesjio platformsJio listingjio platforms listingjio GMPJio IPORelianceRILJio share priceJio Platforms share price

(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

...moreless
(You can now subscribe to our ETMarkets WhatsApp channel)
Read More News onreliance industriesjio platformsJio listingjio platforms listingjio GMPJio IPORelianceRILJio share priceJio Platforms share price

(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

...morelessPrime ExclusivesInvestment IdeasStock Report PlusePaperWealth Edition

• Will it be a regulatory nightmare if an exchange lists on its own platform?

• KYC and KYB: Inside Damani’s Avenue Supermarts that refuses to charge more – Part 1 of 3

• Will oil turn into a lingering problem? Is the world economy, India, or the market prepared?

• KYB and KYC: Business behind the wealth creator called ‘Divi’s Lab’ – Part 2, concluding

• KYB and KYC: Business behind the wealth creator called “Divi’s Lab” – Part 1

• The global business of promising more

• 1
• 2
• 3

View all StoriesContinue reading with one of these options:Limited AccessFreeLogin to get access to some exclusive stories
& personalised newslettersLogin NowUnlimited AccessStarting @ Rs120/monthGet access to exclusive stories, expert opinions &
in-depth stock reportsSubscribe NowET

Unlock Access to All Exclusives with ETPrime FREE TRIAL

15 Days Free: Unlock All ETPrime Exclusives, Market Tools & ePapers

Trial offer expiring in00 : 05 : 00

I'd rather pay ₹2599 now

Uh-oh! This is an exclusive story available for selected readers only.

Worry not. You’re just a step away.

Prime Account Detected!

It seems like you're already an ETPrime member with

Login using your ET Prime credentials to enjoy all member benefits

Log out of your current logged-in account and log in again using your ET Prime credentials to enjoy all member benefits.

Unlock ETPrime's Exclusive Stories Today!

Big Price Drop! Flat 40% Off

Student Only OfferAlready a Member? Sign In nowAlready a Member? Sign In nowAlready a Member? Sign In now

Offer Exclusively For You

Save up to Rs. 700/-

ON ET PRIME MEMBERSHIP

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get Flat 40% Off

Then ₹ 1749 for 1 year

Avail Offer

Offer Exclusively For You

ET Prime at ₹ 49 for 1 month

Then ₹ 1749 for 1 year

Avail Offer

Special Offer

Get flat 40% off on ETPrime

Avail OfferAvail OfferClaim NowAlready a Member? Sign In now

Need Assistance?

Connect with an ETPrime expert for personalized support and guidance

+91 9484700004'; }); } if(listing) { var h3 = "You tried reading " + listArr.length + " locked stories in the past " + threshold + " days.", h4 = "Become an ET Prime member and don't miss out on these exclusive stories."; var html = '

' + h3 + '

' + h4 + '

' + listing + '

'; $('#paidSCWidget').html(html); var callback = $('#paidSCWidget').attr('data-callback'); if(callback && window[callback]) { window[callback](); } customDimension.dimension72 += ' | Shown SYFT no Trial_With Missed Paywalled Articles Collection'; } else { _processNormal() } } }); } else { _processNormal(); } } catch (e) { _processNormal(); } }, function () { _processNormal(); }); //console.log('storyCollectionLoad', $); }

What’s Included with

ETPrime Membership

1Exclusive Insights That Matter

Uncover the truth with our investigative stories

Make strategic moves using the real-world case studies

Read industry-specific stories to identify emerging trends

Spot opportunities with
in-depth insights that matter

• Trump temper on H-1B visas is forcing Indians to do these things to stay put in US

  What Adani’s US indictment means for India Inc’s overseas fundraising

• Why veterans like Reliance, L&T are on acquisition spree? Aswath Damodaran has an answer.

  Will China’s dollar bond sale in Saudi Arabia trump the US in financial world?

• Huawei launches its own OS to compete with Google and Apple. But can it win beyond China?

  The problem with lab grown diamonds

• Why a falling rupee is a better option for the economy

  A list of top 20 momentum stocks that have delivered massive returns in one year

2Invest Wisely With Smart Market Tools & Investment Ideas

Alpha Trade

Get daily trade ideas from SEBI-registered research analysts.

Investment Ideas

Grow your wealth with stock ideas & sectoral trends.

Stock Reports Plus

All-in-one stock research with Stock Score, peer comparison & key signals.

BigBull Portfolio

Get to know where the market bulls are investing to identify the right stocks.

Stock Analyzer

Check the score based on the company's fundamentals, solvency, growth, risk & ownership to decide the right stocks.

Market Mood

Analyze the market sentiments & identify the trend reversal for strategic decisions.

Stock Talk Live at 9 AM Daily

Ask your stock queries & get assured replies by ET appointed, SEBI registered experts.

3Stay informed anytime, anywhere with ET ePaper

ePaper - Print View

Read the PDF version of ET newspaper. Download & access it offline anytime.

ePaper - Digital View

Read your daily newspaper in Digital View & get it delivered to your inbox everyday.

Wealth Edition

Manage your money efficiently with this weekly money management guide.

TOI ePaper

Read the PDF version of TOI newspaper. Download & access it offline anytime.

Deep Explainers

Explore the In-depth explanation of complex topics for everyday life decisions.

Health+ Stories

Get fitter with daily health insights committed to your well-being.

Personal Finance+ Stories

Manage your wealth better with in-depth insights & updates on finance.

5Enjoy Complimentary Subscriptions From Top Brands

Stream new documentaries from all across the world every day.

Stories you might be interested in