The Jio Platforms IPO drew bids worth more than ₹4.5 lakh crore and over 1.25 crore applications, as per a compilation by Safal Capital reported by the Economic Times. The ₹30,213 crore issue closed on 23 October 2026 and set 12 records, seven on bid value and issue size and five on application counts.
What are the 12 records?
The figures below are from the Safal Capital and Investoyard compilation, not from the exchanges. We have not verified them independently.
| Measure | Jio Platforms IPO | Earlier record |
|---|---|---|
| Total bids | Over ₹4.5 lakh crore | ₹4.4 lakh crore |
| QIB bids | ₹3.87 lakh crore | ₹3.86 lakh crore |
| Total applications | Over 1.25 crore | 97.33 lakh |
| Small HNI applications | Over 5.75 lakh | 4,99,825 |
| Large HNI applications | Over 3.5 lakh | 2,71,403 |
| Shareholder category bids | Over ₹18,800 crore | ₹9,350 crore |
| Opening-day subscription | Over 3 times | 1.04 times |
The retail category alone drew more than one crore applications. Applications from existing Reliance Industries shareholders crossed 21 lakh. Jio had set aside shares worth up to ₹2,500 crore for them. Employees filed more than two lakh applications.
How does this fit our subscription numbers?
Our tracker shows a final subscription of 22.19x, with QIBs at 70.55x, NII at 14x and retail at 2.72x. The Jio Platforms subscription page has the full split. ET describes the book as "more than 20 times". Bid value and subscription multiples are measured differently, so the two do not convert into each other.
The anchor round came earlier. Jio allotted ₹8,110 crore to 212 investor accounts and schemes before the issue opened, as per ET.
What our data shows
At ₹30,213 crore, Jio is the largest of the 107 mainboard IPOs of 2026. At 22.19x it sits at the median final book for the year, which is also 22.19x on our records. The record is in demand and applications, not in the multiple. One lot is 12 shares, so the minimum application at the upper band of ₹1,119 is ₹13,428.
Our grey market quote was ₹249 (22.25%) late on 23 October. It is an unofficial dealer quote, not an exchange price. On the last 10 mainboard listings the final GMP was off by 7.4 percentage points on average.
As we reported earlier, the count had already passed 1 crore applications before the close.
What happens next
The basis of allotment is due on 26 October through KFin Technologies, as per ET. Refunds and demat credit follow on 27 October. Shares are scheduled to list on the NSE and BSE on 28 October. The ET report is here.
