Reliance's Jio Platforms IPO Reaches 22.19 Times Subscription on Day 3 as Institutional Demand Surges

Written by: Team Angel OneUpdated on: 24 Oct 2026, 1:22 am IST

The Jio Platforms IPO has concluded its public bidding window with an overall subscription of 22.19 times, receiving cumulative bids for 4,38,26,15,568 shares against 19,75,25,934 shares on offer. The Qualified Institutional Buyers (QIBs) category led the demand with a massive subscription rate of 70.55 times.

The final subscription data from the Jio Platforms IPO at the close of bidding on Day 3, updated at 7:00 PM on October 23, 2026, shows a total subscription of 22.19 times. The IPO received overall bids for 4,38,26,15,568 shares out of the 19,75,25,934 shares offered across various investor segments.

Consolidated Bid Details of Jio Platforms IPO

S. No	CATEGORY	NO OF SHARES OFFERED/ RESERVED	NO OF SHARES BID FOR	NO OF TIMES OF TOTAL MEANT FOR THE CATEGORY
1	Qualified Institutional Buyers (QIBs)	4,90,07,827	3,45,75,57,456	70.55
1(a)	Foreign Institutional Investors (FIIs)	-	1,23,92,71,008	-
1(b)	Domestic Financial Institutions (Banks/ Financial Institutions (FIs)/ Insurance Companies)	-	1,52,49,75,360	-
1(c)	Mutual funds	-	35,70,74,628	-
1(d)	Others	-	33,62,36,460	-
2	Non Institutional Investors	3,64,44,569	51,03,55,128	14.00
2.1	Non Institutional Investors (Bid amount of more than Ten Lakh Rupees)	2,42,96,380	38,61,67,752	15.89
2.1(a)	Corporates	-	2,40,28,128	-
2.1(b)	Individuals (Other than RIIs)	-	34,36,42,380	-
2.1(c)	Others	-	1,84,97,244	-
2.2	Non Institutional Investors (Bid amount of more than Two Lakh Rupees upto Ten Lakh Rupees)	1,21,48,189	12,41,87,376	10.22
2.2(a)	Corporates	-	5,02,224	-
2.2(b)	Individuals (Other than RIIs)	-	12,08,48,292	-
2.2(c)	Others	-	28,36,860	-
3	Retail Individual Investors (RIIs)	8,50,37,327	23,11,62,888	2.72
3(a)	Cut Off	-	20,83,16,496	-
3(b)	Price bids	-	2,28,46,392	-
4	Employees	46,94,835	1,37,43,348	2.93
4(a)	Cut Off	-	1,19,64,732	-
4(b)	Price Bids	-	17,78,616	-
5	Shareholders	2,23,41,376	16,97,96,748	7.60
5(a)	Cut Off	-	13,66,08,876	-
5(b)	Price Bids	-	3,31,87,872	-
-	Total	19,75,25,934	4,38,26,15,568	22.19

Note: The above data is as of 7:00 PM on October 23, 2026.

Qualified Institutional Buyers (QIBs) Subscription on Jio Platforms IPO

The QIB category achieved a final subscription of 70.55 times, with 3,45,75,57,456 shares bid for against 4,90,07,827 shares offered. Domestic Financial Institutions led the cohort with 1,52,49,75,360 shares, followed closely by Foreign Institutional Investors (FIIs) at 1,23,92,71,008 shares. Mutual Funds accounted for 35,70,74,628 shares, while other institutional investors added 33,62,36,460 shares.

Non-Institutional Investors (NIIs) Subscription on Jio Platforms IPO

The NII category recorded a solid subscription of 14.00 times, receiving aggregate bids for 51,03,55,128 shares against 3,64,44,569 shares reserved. The large NII segment (bids above ₹10 lakh) was subscribed 15.89 times, generating bids for 38,61,67,752 shares. Meanwhile, the small NII segment (bids between ₹2 lakh and ₹10 lakh) closed with a subscription rate of 10.22 times, receiving bids for 12,41,87,376 shares.

Retail Individual Investors (RIIs) Subscription on Jio Platforms IPO

The RII segment finished with an overall subscription rate of 2.72 times. Out of the 8,50,37,327 shares on offer, retail participants placed bids for 23,11,62,888 shares. A vast majority of the applications came through the Cut Off option, representing 20,83,16,496 shares, while regular price bids brought in 2,28,46,392 shares.

Employee Category Subscription on Jio Platforms IPO

The employee segment concluded its bidding with a subscription rate of 2.93 times, bringing in total bids for 1,37,43,348 shares against the allocated 46,94,835 shares. Bids at the Cut Off price made up 1,19,64,732 shares, whereas price bids comprised 17,78,616 shares.

Shareholders Subscription on Jio Platforms IPO

The Shareholders category reached a subscription of 7.60 times, securing bids for 16,97,96,748 shares against 2,23,41,376 shares offered. The Cut Off applications dominated this segment with 13,66,08,876 shares, while price bids stood at 3,31,87,872 shares.

Offer Size of Jio Platforms IPO

The total issue size for the Jio Platforms IPO is ₹30,213 crore, which is structured entirely as a 100% fresh issue consisting of up to 27 crore equity shares with no Offer for Sale (OFS) component.

Each equity share carries a face value of ₹10. At the upper end of the price band, the post-issue market capitalization of Jio Platforms is estimated to be approximately ₹10,30,490 crore.

Price Band and Bidding Parameters of Jio Platforms IPO

The price band for the initial public offering has been fixed between ₹1,065 and ₹1,119 per equity share. Retail investors can bid for a minimum lot size of 12 shares, requiring a minimum investment of ₹13,428 at the upper cap, and can apply for a maximum of 14 lots (₹1,87,992).

Additionally, eligible employees are entitled to a discount of ₹54 per share, and a special carve-out of up to ₹2,500 crore has been reserved under the RIL Shareholder Quota for investors holding Reliance Industries shares as of October 14, 2026.

Key Timetable Indicators for Jio Platforms IPO

The public bidding window for the IPO opened on Wednesday, October 21, 2026, and closed on Friday, October 23, 2026. Following the closure of the issue, the basis of allotment will be finalized on Monday, October 26, 2026, with the initiation of refunds and credit of shares to demat accounts taking place on Tuesday, October 27, 2026. The shares are tentatively scheduled to debut and commence trading on both the BSE and NSE on Wednesday, October 28, 2026.

Conclusion

The Jio Platforms IPO closed its three-day bidding window with strong interest across all segments, culminating in a total subscription of 22.19 times. QIBs anchored the issue at 70.55 times subscription, followed by NIIs at 14.00 times, Shareholders at 7.60 times, Employees at 2.93 times, and Retail Investors at 2.72 times.

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.

Published on: Oct 21, 2026, 7:41 PM IST

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