Jio’s ₹30,213-crore IPO was fully subscribed within 100 minutes of opening — the fastest ever for a mega IPO in India. By 5 pm on Day 1, bids worth ₹69,800 crore had come in.
Updated: October 22, 2026, 11:30 AM IST
Quick Read
- Jio Platforms’ ₹30,213-crore IPO was fully subscribed within 100 minutes on Day 1 — a record for Indian mega IPOs.
- By 5 pm, investors had bid for 62.36 crore shares against 19.75 crore on offer (3.16x), worth about ₹69,800 crore.
- QIBs led at 9.42x; retail was 0.73x — still the highest Day-1 retail demand for any Indian IPO. The issue closes October 23, listing on October 28.
The 100-minute sellout
When the Jio Platforms IPO opened for bidding on Wednesday morning, nobody expected this. Within 100 minutes, every share on offer was spoken for. Stock exchange data later showed the full picture: by 5 pm, investors had placed bids for 62.36 crore shares against the 19.75 crore shares on offer. That is 3.16 times the shares available, worth roughly ₹69,800 crore.
To put that in context — Bajaj Housing Finance’s IPO needed until 2 pm on its opening day to fill up. Jio did it before most people finished their morning tea.
Also read: Jio IPO Day 1: Fully Subscribed in 100 Minutes, GMP Signals Big Listing Gain
Who is buying — category by category
Qualified institutional buyers (QIBs) — the big funds and banks — led the charge, bidding 9.42 times their reserved portion. Non-institutional investors (wealthy individuals and companies) bid 1.68 times their quota.
Retail investors — ordinary people like you and me — bid for 0.73 times their reserved portion on Day 1. That may sound low, but here is the interesting part: the ₹6,900 crore-plus that retail investors bid on Day 1 is the highest Day-1 retail demand for any IPO in India’s history. Small investors are coming in strong; they are just spreading their bids across the three days.
The employee quota was subscribed 1.37 times, and the shareholder reservation 1.46 times.
Price, lot size and key dates
The price band is fixed at ₹1,065 to ₹1,119 per share. One lot is 12 shares, so a retail investor needs about ₹13,428 to apply for a single lot at the top price. The IPO closes on October 23, and the shares are expected to list on October 28.
Unlike many big IPOs where existing owners sell their shares, Jio is issuing 27 crore brand-new shares. That means the ₹30,213 crore raised goes straight into the company — for repaying debt, building networks, and investing in technology and AI.
Also read: Sensex Rallies 678 Points as Trade Deal Hopes Return
The grey market is excited
In the grey market — the unofficial market where IPO shares are traded before listing — Jio’s premium was hovering around ₹270-273 per share on Day 1, suggesting a listing gain of roughly 22-24% over the top of the price band. Grey market prices move fast and are not a promise, but they show the mood: investors expect a strong debut.
Why this IPO moved the rupee
Here is something most IPO stories miss. Foreign investors who want Jio shares must first sell dollars and buy rupees. That flood of dollars pushed the rupee to a six-week high of 94.38 against the dollar on Wednesday, helped along by RBI support. One IPO, and the currency market felt it.
With anchor investors included, total demand for the issue has already crossed ₹3.20 lakh crore. India’s largest-ever IPO is living up to the billing — and Day 2 will show whether retail investors pile in to close the gap.
FAQs
How much was the Jio IPO subscribed on Day 1?
3.16 times — bids for 62.36 crore shares against 19.75 crore on offer, worth about ₹69,800 crore. It was fully subscribed within 100 minutes, a record for Indian mega IPOs.
What is the Jio IPO price band and lot size?
₹1,065-₹1,119 per share, with a lot size of 12 shares. A retail investor needs about ₹13,428 for one lot at the upper price.
When does the Jio IPO close and list?
The issue closes on October 23, 2026, and listing is expected on October 28. The grey market premium on Day 1 suggested a ~22-24% listing gain.
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