MUMBAI – Jio Platforms Ltd.’s ₹30,213 crore initial public offering concluded its three day bidding cycle on Friday setting a global benchmark by drawing more than 10 million individual investor applications.
The blockbuster offering finished 22.19 times subscribed, powered by heavy demand across institutional and retail categories. The milestone makes Jio Platforms the first public issuer globally to cross the 1-crore application threshold, eclipsing the previous Indian record held by Waaree Energies.
Priced between ₹1,065 and ₹1,119 per share, the nation’s largest equity offering consisted entirely of a fresh issue of 27 crore shares. Parent company Reliance Industries Ltd. and strategic backers including Meta and Google chose not to offload any existing stakes through an offer-for-sale (OFS), routing all capital directly into the business.
Investor enthusiasm materialized immediately after the issue opened, achieving full subscription within the first 100 minutes. The sheer volume of traffic prompted the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) to exteiption figures.nd daily bidding windows from standard operating hours to a 9 a.m. through 7 p.m. schedule.
Jio Platforms plans to allocate up to ₹27,500 crore of the issue proceeds to prepay or repay outstanding borrowings at its primary subsidiary, Reliance Jio Infocomm, cutting down financial overhead as the company scales its digital services, artificial intelligence, and cloud infrastructure.
At the upper limit of the price band, the company’s post listing market capitalization is projected at approximately ₹10.3 lakh crore, instantly positioning it among India’s top five most valuable listed corporations.
The basis of share allotment is slated for finalization on October 26, with trading debuts on the BSE and NSE scheduled for October 28.
