Telecom behemoth Jio Platforms Ltd’s Rs 30,213-crore initial public offering witnessed strong response from investors as it was fully subscribed within 100 minutes of opening on Wednesday, making it the fastest among India’s mega-issues to attract bids for all shares on offer, as institutional investors led an early rush for the country’s largest-ever IPO. According to data available on the National Stock Exchange at 5 pm, the issue attracted bids for 59,24,77,812 crore shares against 19,75,25,934 crore shares on offer, translating into overall subscription of 3Â times on day 1. The offering remains open until October 23.
High demand from qualified institutional buyers
Demand was heavily skewed towards qualified institutional buyers, whose reserved portion was subscribed 9 times, with bids for 44,12,96,244 crore shares against 4,90,07,827 crore shares on offer. Domestic financial institutions, including banks and insurers, bid for 25,02,26,892 crore shares, while foreign institutional investors sought 15,14,32,056 crore shares.
The early pace 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 Platforms IPO GMP Today
A high grey-market premium (GMP), strong institutional bid, and bullish brokerage consensus align with the robust immediate demand. Institutional participation underscores long-term fundamental confidence, consistent with Reliance’s multi-decade track record of wealth creation. Â
According to Investorgain, Jio Platforms IPO’s unlisted shares are trading at a grey market premium (GMP) of Rs 253. With an upper price band of Rs 1,119, the company’s shares are expected to list around Rs 1,372, reflecting a grey market premium of 22.61 per cent.
Future-ready innovations
Jio aims to become the first Indian company to take a home-grown, end-to-end telecom technology stack to operators across developed and developing markets through a managed-services model. This ambition signals a potential shift in India’s role in global telecommunications, from importing technology to exporting advanced, Indian-developed solutions.
Jio’s international roadmap is backed by technology tested in India’s complex market, where it serves over 533 million customers and manages roughly 60 per cent of the country’s wireless data traffic.
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Jio Platforms IPO sets new benchmark for Indian markets, draws record institutional demand