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Jio Platforms IPO Subscribes at 3.2× Multiple, Targets Top‑Five Market Cap | AirNews.in

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Nifty Falls 2.36% as Fed Meeting Looms, Jio IPO on Horizon Eternal Ltd. Q2 Net Order Value Surge 21.5%, Shares Drop 1.5%Sagility Q2 Net Profit Up 13%, Shares Rise 4% on NSE Gold Futures Slip 0.5%, Silver Slides 1.15%, Brent Crude Rises 1.2%Persistent Systems Shares Fall 0.6% to ₹5,826 After ₹4,265 Crore QIP Meta Q3 Revenue Beats At $64.6B, Q4 Outlook Tops $74.5B Estimates NSE Unlocks ₹3,225 Crore Equity as Shares Fall 1%CSI 300 Falls 20%, Entering Bear Territory Julius Baer Forecasts Oil Prices at $110/Barrel, Anticipates Decline; AI Rally Persists M&M Financial Net Profit Climbs 55% YoY, Stock Slumps 9%Nifty Falls 2.36% as Fed Meeting Looms, Jio IPO on Horizon Eternal Ltd. Q2 Net Order Value Surge 21.5%, Shares Drop 1.5%Sagility Q2 Net Profit Up 13%, Shares Rise 4% on NSE Gold Futures Slip 0.5%, Silver Slides 1.15%, Brent Crude Rises 1.2%Persistent Systems Shares Fall 0.6% to ₹5,826 After ₹4,265 Crore QIP Meta Q3 Revenue Beats At $64.6B, Q4 Outlook Tops $74.5B Estimates NSE Unlocks ₹3,225 Crore Equity as Shares Fall 1%CSI 300 Falls 20%, Entering Bear Territory Julius Baer Forecasts Oil Prices at $110/Barrel, Anticipates Decline; AI Rally Persists M&M Financial Net Profit Climbs 55% YoY, Stock Slumps 9%

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Jio Platforms IPO Subscribes at 3.2× Multiple, Targets Top‑Five Market Cap

about 1 hour ago

Published: October 22, 2026

Jio Platforms’ IPO attracted ₹3.2 lakh crore in demand, a 3.2× subscription multiple, eclipsing the ₹1 lakh crore valuation target. Shares will list on BSE/NSE on Oct 28, positioning the company among India’s top five by market cap.

Jio Platforms’ IPO drew a 3.2× subscription multiple on the first day, with total demand hitting ₹3.2 lakh crore, eclipsing the ₹1 lakh crore valuation target set by the board.

Institutional investors led the charge, bidding 9.4× their allocated quota and making up ₹2.5 lakh crore of the demand, while retail participation hit ₹6,900 crore, the highest for any Indian IPO to date.

MarketSmith’s Mayuresh Joshi highlighted an average revenue per user arbitrage of ₹48–₹50 between Bharti Airtel and Jio, suggesting that a ₹15–₹20 lift in Jio’s ARPU could unlock significant top‑line upside.

The company will close the issue on Oct 23, allotting shares on Oct 26, with demat credit on Oct 27 and listing on BSE and NSE on Oct 28, where it is projected to join the top five by market cap.

Broadband expansion and tariff adjustments are expected to drive the next‑quarter earnings, positioning Jio as a key growth engine in a telecom sector that has outpaced the sector average in recent earnings releases.