The mega initial public offering (IPO) of Jio Platforms Limited has received a strong investor response and was subscribed over 5 times on day 2 of the subscription window. The three-day subscription window for the offering will close on October 23, 2026. The IPO was subscribed 5.17 times at the time of writing, with investors bidding for 102.03 crore shares against 19.75 crore shares on offer. Similarly, the portion reserved for qualified institutional buyers was subscribed around 12.31 times, with bids for 60,30,41,796 shares against 4,90,07,827 shares on offer.
Demand from non-institutional investors reached 5.43 times the shares reserved for them. The retail investor segment was subscribed 1.47 times, with bids for 12,52,24,536 shares against 8,50,37,327 shares on offer.
IPO fully subscribed within 100 minutes
On Wednesday, the opening day of the IPO, Jio Platforms Ltd’s Rs 30,213-crore initial public offering was fully subscribed within 100 minutes, making it the fastest-subscribed mega public issue in India, with investors placing bids worth about Rs 69,800 crore for 62.36 crore shares by 5 pm.
This sets Jio apart from other large Indian offerings. Bajaj Housing Finance’s IPO was fully subscribed by 2 pm on its opening day, while LG Electronics India’s offering reached full subscription by the end of Day 1 in 2025. Hyundai Motor India’s Rs 27,870-crore IPO, which held the previous record for India’s largest public offering, was subscribed just 18 per cent by the end of its first day in 2024.
Jio’s offering is also structurally different from those of Hyundai and LG Electronics, both of which were entirely offers for sale by existing shareholders. Jio is issuing up to 27 crore new shares, meaning the proceeds will go to the company rather than to shareholders selling their holdings.
Jio Platforms IPO GMP Today
According to Investorgain, Jio Platforms IPO’s unlisted shares are trading at a grey market premium (GMP) of Rs 247. With an upper price band of Rs 1,119, the company’s shares are expected to list around Rs 1,366, reflecting a grey market premium of 22.07 per cent.
Anchor book demand
The anchor investor window overflowed on Monday as the IPO received 30 times the available shares from global institutional investors, with bids crossing an unprecedented Rs 2.5 lakh crore for just Rs 8,110 crore of available shares. This indicates massive unmet institutional demand expected to spill into the secondary market post-listing.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)