Jio Platforms’ IPO closed with a 22‑fold oversubscription, pulling in ₹30,213 crore in a single day — the biggest in India’s history.
The filing with the BSE shows the float was 1.5 million shares at ₹1,370, a 22% premium over the issue price.
The market reacted sharply: the rupee edged to 94.94 against the dollar, crude spiked to $112 a barrel, and foreign institutional investors trimmed selling to net buyers on two days.
Analysts had pegged the subscription at 5×–10×; the actual 22× oversubscription has sent the stock’s valuation in the dark‑market to the top quartile of the mid‑cap space.
Looking ahead, the company will list on both BSE and NSE on Oct 28, with price discovery expected to occur in the first hour of trading. Investors will gauge whether the 22% upside holds against the backdrop of a volatile macro backdrop and a shrinking margin‑funded book of ₹1.5 lakh crore.