Jio IPO Reaches 1.45 Times by Midday on Day 1: Institutions Bid 4.13 Times, Retail Still Below Half

Jio Platforms' Rs 30,213-crore initial public offering was subscribed 1.45 times overall by 12:42 pm on its first day, Wednesday, October 21, according to exchange data cited by The Hindu BusinessLine and ScanX. Qualified institutional buyers bid 4.13 times their quota, while retail investors were at 0.45 times and non-institutional investors at 0.59 times — a sharp institution-versus-retail gap in India's largest-ever IPO, which closes on October 23.

Awaaz Punjab Investigations Desk21 October 20263 min readRead in all 3 languages

Mumbai, October 21: The initial public offering of Jio Platforms, seeking to raise Rs 30,213 crore — yaani about Rs 30,213 crore — was subscribed 1.45 times overall by 12:42 pm on Day 1, Wednesday, October 21, The Hindu BusinessLine reported, citing the cumulative demand schedule. The issue received bids for 28.58 crore shares against 19.75 crore shares offered or reserved across categories.

The qualified institutional buyers (QIB) portion was subscribed 4.13 times, ScanX and IPOji data also showed. The non-institutional investor portion was at 0.59 times, retail individual investors at 0.45 times, the employee reservation at 0.97 times and the Reliance Industries shareholders' reservation at 0.85 times, BusinessLine reported.

The price band is Rs 1,065-Rs 1,119 per share with a minimum bid of 12 shares, and the issue closes on October 23, ScanX reported. The update follows the issue's full subscription earlier on Day 1; the midday figures show institutional demand continuing to build while retail participation remained below half its quota at that point in the day. Subscription figures change through the bidding day and do not predict listing performance.

Sources: The Hindu BusinessLine, ScanX and IPOji, reporting exchange subscription data on October 21, 2026.