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Jio Platforms IPO creates history: First issue globally to cross 1 crore applications
- Jio Platforms Limited's initial public offering closes today, setting a global record with more than 1 crore applications. The issue was subscribed 7.83 times as bidding neared close on Friday, October 23, 2026.
- Valued at approximately $108 billion, the company leverages in-house 5G core and cloud-native technology. Managing director Akash Ambani stated "there is no either-or at Jio: the network is our technology," counting on AI-based services to drive future growth.
- Before the public opening, the company raised ₹8,110 crore from 212 anchor investors including BlackRock and Fidelity Investments. Jio Platforms plans to use up to ₹27,500 crore from proceeds to repay borrowings at Reliance Jio Infocomm.
- Following the subscription close, the basis of allotment is expected to be finalized by October 26. Shares are scheduled to list on the Bombay Stock Exchange and National Stock Exchange on October 28.
- Analysts cite the company's leadership in India's telecom market and home broadband opportunities as key factors for long-term investors. Recent major Indian IPOs have often stumbled on debut, with the four largest deals this decade posting a weighted-average decline of 9.9 per cent.
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LatestlyJio Platforms IPO sets global record with over 1 crore applications, subscribed 7.83 times
Jio Platforms Limited’s initial public offering (IPO) has received more than 1 crore applications, setting a global record for an IPO, with bidding nearing its close on Friday, while the issue was subscribed 7.83 times, according to exchange data.
·India
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Total News Sources40
Leaning Left3Leaning Right10Center3Last UpdatedBias Distribution62% Right
Bias Distribution
- 62% of the sources lean Right
62% Right
L 19%
C 19%
R 62%
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