Jio Platforms Limited closed its initial public offering on 23 October 2026 with bids for 22.19 times the shares on offer, according to NSE's consolidated bid details updated at 19:00 IST that day. The company, whose promoter is Reliance Industries Limited, is offering up to 270,000,000 new equity shares, with no shares offered for sale by existing holders, at a price band of ₹1,065 to ₹1,119 each.
- Overall subscription22.19 times
- Qualified institutional buyers70.55 times
- Retail individual investors2.72 times
- Shares bid for4,382,615,568 shares vs 197,525,934 shares offered
| Category (NSE label) | Shares offered | Shares bid | Times subscribed |
|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 49,007,827 | 3,457,557,456 | 70.55 |
| Non Institutional Investors | 36,444,569 | 510,355,128 | 14.00 |
| of which bids above ₹10 lakh | 24,296,380 | 386,167,752 | 15.89 |
| of which bids above ₹2 lakh up to ₹10 lakh | 12,148,189 | 124,187,376 | 10.22 |
| Retail Individual Investors (RIIs) | 85,037,327 | 231,162,888 | 2.72 |
| Employees | 4,694,835 | 13,743,348 | 2.93 |
| Shareholders | 22,341,376 | 169,796,748 | 7.60 |
| Total | 197,525,934 | 4,382,615,568 | 22.19 |
Source: NSE consolidated bid details, Jio Platforms Limited (JPL), 23 October 2026, 19:00 IST. Times subscribed is NSE's figure, rounded to two decimal places.
Retail individual investors bid for 231,162,888 shares against 85,037,327, or 2.72 times, and 208,316,496 of those shares were bid at the cut-off price. The shareholders category, which the prospectus reserves for eligible Reliance Industries shareholders, was subscribed 7.60 times, and the employees category 2.93 times.
Shares bid by QIB sub-category
- Domestic financial institutions (banks, FIs, insurers)1,524,975,360 shares44%
- Foreign institutional investors1,239,271,008 shares36%
- Mutual funds357,074,628 shares10%
- Others336,236,460 shares10%
Total: 3,457,557,456 shares
Source: NSE consolidated bid details, 23 October 2026, 23 October 2026, 19:00 IST.
The issue also included an anchor reservation portion of 72,474,066 shares, NSE's issue information shows. The prospectus set 19 October 2026 as the anchor investor bidding date, with public bidding open from 21 to 23 October 2026.
Allotment and use of proceeds
The IPO committee of Jio Platforms' board approved the ₹1,065 to ₹1,119 price band on 14 October 2026, Reliance Industries told the stock exchanges. The issue also reserves up to ₹5,000 million for eligible employees and up to ₹25,000 million for eligible RIL shareholders. Eligible employees bidding in their reserved portion get a discount of ₹54 per share, which Jio Platforms' IPO committee approved on 14 October 2026, Reliance Industries told the stock exchanges.
Jio Platforms intends to use up to ₹275,000 million of the net proceeds to prepay, in full or in part, borrowings of its material subsidiary Reliance Jio Infocomm Limited (RJIL), according to the RHP. Those borrowing arrangements include term loans structured as external commercial borrowings, which the prospectus says are subject to foreign currency fluctuations. Any balance would fund wider corporate needs, which the RHP caps at 25% of gross proceeds.
- National Stock Exchange of India, Jio Platforms Limited (JPL) issue information and consolidated bid details, 23 Oct 2026, 15:30 CEST
- Jio Platforms Limited, Red Herring Prospectus dated 14 October 2026, 14 Oct 2026, 02:00 CEST
- Reliance Industries Limited, disclosure to stock exchanges on Jio Platforms IPO price band, 14 Oct 2026, 16:18 CEST