Jio Platforms IPO Day 3: 19.30x subscribed; Retail portion at 5x

Key takeaways:

Jio Platforms Limited is the digital connectivity and technology subsidiary of Reliance Industries.
The Jio Platforms IPO is a book-built offering of ₹30,213.00 crore, comprising entirely a fresh issue of 27.00 crore equity shares with no offer for sale (OFS) component.
The three-day subscription window closed today, Friday, October 23, 2026, with the issue recording an overall subscription of 19.30 times.
Qualified Institutional Buyers (QIBs) led the bidding with 59.02 times subscriptions, followed by Non-Institutional Investors (NIIs) at 13.89 times.
The allotment is scheduled to be finalised on Monday, October 26, 2026, with the stock market listing expected on Wednesday, October 28, 2026, on both the BSE and NSE.

Today marks the end of the three-day bidding period for the landmark ₹30,213.00 crore Jio Platforms IPO. India's largest-ever public offering witnessed strong participation across institutional, high-net-worth, and retail investor segments on Day 3, propelling the overall subscription to 19.30 times.

On the last day of the public issue, Jio Platforms set the world's first record for a public issue by crossing the 1 crore application milestone, beating the previous record of around 97 lakh applications by Waaree Energies. Let's take a closer look at the Day 3 bidding data of the Jio Platforms IPO.

Key details of the Jio Platforms IPO

For investors tracking this mainboard offering, here are its core details:

Parameter	Details
Issue Size	₹30,213 crore
Fresh Issue	₹30,213 crore (27 crore shares)
Offer for Sale (OFS)	Nil
Price Band	₹1,065 to ₹1,119 per share
Face Value	₹10 per share
Lot Size	12 shares
Minimum Retail Investment	₹13,428 (1 lot at upper band)
Post-Issue P/E	~33.19x (on FY26 EPS)
Market Cap at Upper Band	~₹10,30,490.55 crore
Book Running Lead Managers	Kotak Mahindra Capital Company Ltd. (with 18 other lead managers)
Registrar	KFin Technologies Ltd.
Listing Exchange	BSE & NSE

Key dates for the Jio Platforms IPO

Here is the complete schedule of the Jio Platforms IPO:

Event	Date
Anchor Investor Bidding	Tuesday, October 20, 2026
IPO Subscription Opens	Wednesday, October 21, 2026
IPO Subscription Closes	Friday, October 23, 2026
Allotment Finalisation	Monday, October 26, 2026
Refund Initiation	Tuesday, October 27, 2026
Credit of Shares to Demat Account	Tuesday, October 27, 2026
Listing on BSE & NSE	Wednesday, October 28, 2026

About Jio Platforms

Jio Platforms Limited operates an integrated technology ecosystem that combines nationwide digital connectivity with consumer and enterprise software services. Through its wholly owned telecom subsidiary, Reliance Jio Infocomm Limited (RJIL), the company provides mobile connectivity, fixed broadband, cloud infrastructure, consumer digital applications, and proprietary 5G technology.

On October 19, 2026, Jio Platforms allocated 7.24 crore equity shares to 212 anchor investors at the upper price band of ₹1,119 per share, and raised ₹8,109.85 crore.

On the financial front, Jio Platforms has shown consistent growth in the top line and bottom line. Its revenue from operations grew 14.56% from ₹1,28,218 crore in FY25 to ₹1,46,885 crore in FY26, while total income reached ₹1,49,759 crore in FY26.

Last-day subscription status

Demand picked up significantly on Day 3 across all five investor categories, with cumulative subscription reaching 27.74 times. Let's look at the subscription progression over 3 days of the bidding window:

Investor Category	Day 1 (Oct 21)	Day 2 (Oct 22)	Day 3 (Oct 23)	Total Subscription
Qualified Institutional Buyers (QIB)	9.04x	12.87x	59.02x	80.93x
Non-Institutional Investors (NII)	1.61x	5.67x	13.89x	21.17x
Retail Individual Investors (RII)	0.73x	1.55x	2.72x	5.00x
Shareholder Quota	1.41x	3.92x	7.52x	12.85x
Employee Quota	1.33x	2.05x	2.88x	6.26x
Overall subscription on each day	3.04x	5.40x	19.30x	27.74x

What’s next?

The 3-day bidding period ended today, and the allotment will be finalised on Monday, October 26, 2026. Applicants can check their allotment status online through the official NSE, BSE or the issue registrar, KFin Technologies Ltd websites by using their PAN, Application Number or Demat Account.

Following allotment finalisation, the unblocking of ASBA mandates for unallotted bids and the credit of equity shares to successful allottees' demat accounts will be completed on Tuesday, October 27, 2026, ahead of the company's stock market listing on Wednesday, October 28, 2026, on both the NSE and BSE.