Jio Platforms' Rs 30,213-crore IPO was subscribed 6.76 times as of 11:48 am IST on Friday, October 23, the third and final day of bidding, Inc42 reported, citing BSE subscription data. Investors bid for 133.51 crore shares against 19.75 crore shares on offer, excluding the anchor portion.

Source: Inc42 — Jio Platforms IPO Booked 6.76X On Day 3 So Far (Oct 23, 2026, 12:14 IST)

The Hindu BusinessLine's live tracker showed the same climb through the morning — 5.98 times at 10:15 am, 6.23 times at 10:42 am and 6.50 times at 11:26 am — after the issue had opened the day at 5.73 times in early trade, according to Angel One's 9:24 am snapshot of exchange data.

6.76xOverall subscription at 11:48 am IST on the final day (BSE data via Inc42)
14.18xQIB portion — 69.49 crore shares bid against 4.90 crore reserved
1.99xRetail portion — 16.96 crore shares bid against 8.50 crore reserved
Rs 30,213 crIssue size — yaani about Rs 302 billion, India's largest IPO

Institutions did the heavy lifting

Within the QIB book, domestic financial institutions including banks and insurance companies bid for 34.51 crore shares, followed by foreign institutional investors at 26.19 crore shares and mutual funds at 4.36 crore shares, Inc42 reported. The non-institutional investors' (NII) portion was subscribed 9.17 times — 10.50 times for bids above Rs 10 lakh and 6.52 times for bids between Rs 2 lakh and Rs 10 lakh — while the employee portion was booked 2.46 times and the Reliance Industries shareholder portion 5.59 times.

The offer, priced in a band of Rs 1,065 to Rs 1,119 per share, is a fresh issue of up to 27 crore shares with no offer-for-sale component. At the upper end it values Jio Platforms at around Rs 10.3 lakh crore — yaani about Rs 10.3 trillion — surpassing Hyundai Motor India's Rs 27,870-crore issue as India's largest IPO, Inc42 reported. Ahead of the public issue, the company raised Rs 8,109.8 crore from anchor investors, allotting about 7.25 crore shares at Rs 1,119 apiece to investors including HDFC Mutual Fund, ICICI Prudential Mutual Fund, SBI Mutual Fund, BlackRock, the Government of Singapore and the Abu Dhabi Investment Authority.

Awaaz Punjab reported the issue entering its final day with Rs 3.73 lakh crore in bids on Friday morning. Read: Jio IPO enters final day subscribed 5.5 times

What happens next

Jio Platforms plans to use Rs 27,500 crore of the proceeds to prepay borrowings of its telecom subsidiary Reliance Jio Infocomm (RJIL), with the rest for general corporate purposes, Inc42 reported. RJIL had 533.3 million customers as of June 30, 2026, and Jio's network carried around 60 per cent of India's wireless data traffic in FY26. The IPO's allotment is likely to be finalised on October 26, with listing on the stock exchanges on October 28, Upstox reported. Subscription figures move until the issue closes on Friday evening, so the final multiple will be known only after bidding ends.