Jio Platforms IPO Day 1: Subscribed 1.71x; QIB Demand at 4.88x
Key Highlights
Jio Platforms IPO (₹22103 crore mainboard IPO) was subscribed 1.71x on Day 1 of 3, with QIB at 4.88x. See category-wise subscription and day-wise bids.
Last updated: Wed, Oct 21, 2026, 3:00 PM IST · mainboard · & · Day 1 of 3
- Jio Platforms IPO subscribed 1.71x overall on Day 1
- Total bids: 33,86,92,308 shares against 19,75,25,934 shares on offer
- Category-wise: 4.88x, 0.76x, 0.52x, Employee 1.07x
- Price band: ₹1065 to ₹1119 per share
- The issue closes on Fri, Oct 23, 2026
The Jio Platforms IPO opened for subscription on day 1 of 3 trading days. As of 3:00 PM IST on Wednesday, October 21, 2026, the issue reached an overall subscription multiple of 1.71x. A subscription multiple is the number of shares bid for divided by the total number of shares offered to the public.
The qualified institutional buyers (QIB) category led the activity with a subscription of 4.88x. This group consists of financial institutions like banks and mutual funds.
Jio Platforms IPO Status: Day 1
Day-wise subscription
| Day | Date | Total bids (shares) | Bid value at upper band (₹ crore) | Subscribed (x) |
|---|---|---|---|---|
| Day 1 | Wed, Oct 21, 2026 | 33,86,92,308 | 37,899.67 | 1.71x |
Category-wise subscription
| Category | Shares offered | Day 1 bids | Day 1 (x) |
|---|---|---|---|
| QIB | 4,90,07,827 | 23,91,97,224 | 4.88x |
| NII | 3,64,44,569 | 2,77,37,064 | 0.76x |
| of which individual NII | — | 2,48,12,916 | — |
| of which corporate NII | — | 23,57,292 | — |
| of which other NII | — | 5,66,856 | — |
| Retail | 8,50,37,327 | 4,45,09,260 | 0.52x |
| Employee | 46,94,835 | 50,20,896 | 1.07x |
| Other reserved categories | 2,23,41,376 | 2,22,27,864 | 0.99x |
| Total | 19,75,25,934 | 33,86,92,308 | 1.71x |
The subscription data shows varied interest across investor segments on the first day. While QIBs bid 4.88x their allocated quota, other categories remained below full subscription. The non-institutional investors (NII) category, which includes individuals bidding above ₹2 lakh, reached 0.76x. Retail investors subscribed to 0.52x of the shares reserved for them, while the employee category saw a subscription of 1.07x.
Intraday subscription
| As of | Total bids (shares) | Total (x) | QIB (x) | NII (x) | Retail (x) |
|---|---|---|---|---|---|
| 11:00 AM | 17,85,02,004 | 0.90x | 2.90x | 0.23x | 0.20x |
| 1:00 PM | 27,94,79,676 | 1.41x | 4.13x | 0.54x | 0.42x |
| 3:00 PM | 33,86,92,308 | 1.71x | 4.88x | 0.76x | 0.52x |
Jio Platforms IPO Offer Details
| Field | Value |
|---|---|
| IPO date | Wed, Oct 21, 2026 to Fri, Oct 23, 2026 |
| Listing date | To be announced |
| Face value | ₹10 per share |
| Price band | ₹1065 to ₹1119 per share |
| Lot size | 12 shares |
| Total issue size | 27,00,00,000 shares (₹22,103 crore) |
| Listing at | NSE & BSE |
| Lead managers | Kotak Mahindra Capital Co Ltd, Morgan Stanley India Co Pvt Ltd, Axis Capital Ltd., BNP Paribas, BofA Securities India Ltd., CLSA India Pvt Ltd, Dam Capital Advisors Ltd. (Formerly IDFC Securities Ltd.), Goldman Sachs (India) Securities Pvt Ltd, HDFC Bank Ltd., HSBC Securities and Capital Markets (India) Pvt Ltd., ICICI Securities Ltd, IIFL Capital Services Ltd., Jefferies India Pvt Ltd., JM Financial Ltd., JP Morgan India Pvt Ltd, SBI Capital Markets Ltd, UBS Securities India Pvt Ltd, 360 ONE WAM Ltd., Citigroup Global Capital Markets India Pvt Ltd |
| KFIN Technologies Ltd. |
About Jio Platforms
Jio Platforms is a technology company focused on digital connectivity, digital services, and technology-led solutions in India. As per the DRHP, the company operates as a gateway to the digital economy, serving 524.4 million customers as of March 31, 2026. Its offerings include mobile and fixed broadband, digital entertainment, cloud services, and artificial intelligence. The firm maintains extensive infrastructure, including 360,382 network towers and over 1.0 million route kilometres of fibre. It provides enterprise solutions across sectors such as banking, power, and IT, while leveraging proprietary technology across its network and software applications.
Jio Platforms Financial Highlights
| Metric | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| from operations (₹ crore) | 1,46,885.30 | 1,28,218.40 | 1,09,558.10 |
| Total income (₹ crore) | 1,49,884.50 | 1,29,333.00 | 1,10,183.30 |
| Profit after tax (₹ crore) | 30,052.70 | 26,120.30 | 21,434.00 |
| Net worth (₹ crore) | 3,35,976.90 | 3,05,047.40 | 2,78,286.40 |
| Total borrowings (₹ crore) | 14,597.40 | 23,445.40 | 7,458.20 |
| (₹) | 33.63 | 29.21 | 23.96 |
Revenue from operations grew to ₹1,46,885.30 crore in FY 2025-26, up from ₹1,28,218.40 crore in FY 2024-25. Profit after tax also rose to ₹30,052.70 crore in FY 2025-26, compared to ₹26,120.30 crore in FY 2024-25. The company reported a debt-to-equity ratio of 0.04x at the end of FY 2025-26.
Objects of the Issue
| Purpose | Amount (₹ crore) |
|---|---|
| Prepayment, in full or in part, of certain outstanding borrowings availed by the Material Subsidiary | 27,500.00 |
Risk Factors as per the DRHP
- The company faces intense competition from other telecom service providers, which may impact its market position and financial performance as it manages 360,382 network towers.
- Outstanding legal proceedings involving the company, its subsidiaries, promoters, and directors create uncertainty, as the firm manages 7,220 patent applications filed as of June 30, 2026.
- Evolving data privacy regulations, such as the DPDP Act, present compliance challenges for the company, which served 533.3 million customers as of June 30, 2026.
- The company faces risks regarding the uncertainty of achieving anticipated returns on new technology investments, which are critical to its infrastructure spanning over 1.0 million route kilometres of fibre.
How to Check Jio Platforms IPO Subscription Status
Live bidding figures are published by NSE & BSE while the issue is open. Once it closes, allotment status is published by the registrar, KFIN Technologies Ltd..
This article is for information only and is not investment advice. Subscription figures are based on exchange data as of Wed, Oct 21, 2026, 3:00 PM IST and can change. IPO investments are subject to market risks; read the offer document carefully before investing.