Jio Platforms’ IPO drew a staggering ₹7.4 lakh crore in demand, turning the 22.19‑fold subscription into a headline‑making record.
After trimming a ₹2.5 lakh‑crore anchor book, public investors still bid ₹4.9 lakh crore, eclipsing LG Electronics India’s ₹4.4 lakh‑crore sale last year.
Qualified Institutional Bidders outpaced the 4.9‑crore share allotment with 345.75 crore shares, a 70.55‑fold leap, while non‑retail and retail investors punched 51.03 crore and 23.11 crore shares, respectively, at 14‑ and 2.7‑fold rates.
The issue hit full subscription in a record 100 minutes, became the first IPO to attract over 1 crore applications, and eclipsed Hyundai Motor India’s ₹27.87 lakh‑crore sale to become the largest fresh‑issue raise in corporate India.
Priced between ₹1,065 and ₹1,119, Jio Platforms will command a ₹10.3 lakh‑crore market cap when listed, and the greypremium already hovers at ₹257 – about 23% above the issue price.
Proceeds will funnel into debt reduction, and the allotment is slated for Oct 26 with the first trading day on Oct 28, offering a clear path for investors to gauge post‑listing performance.