Jio Platforms IPO Day 2: Subscribed 3.16x; QIB Demand at 9.42x
Key Highlights
Jio Platforms IPO (₹22103 crore mainboard IPO) was subscribed 3.16x on Day 2 of 3, with QIB at 9.42x. See category-wise subscription and day-wise bids.
Last updated: Thu, Oct 22, 2026, 11:00 AM IST · mainboard · & · Day 2 of 3
- Jio Platforms IPO subscribed 3.16x overall on Day 2, up from 3.02x on Day 1
- Total bids: 62,36,07,864 shares against 19,75,25,934 shares on offer
- Category-wise: 9.42x, 1.68x, 0.73x, Employee 1.37x
- Price band: ₹1065 to ₹1119 per share
- The issue closes on Fri, Oct 23, 2026
The Jio Platforms IPO reached a subscription multiple of 3.16x on day 2 of 3 trading days, as of 11:00 AM IST on October 22, 2026. The total number of shares bid for was 62,36,07,864 against 19,75,25,934 shares offered. The QIB category emerged as the most-bid segment at 9.42x. This represents an increase from the 3.02x subscription multiple recorded on the first day of the issue.
Jio Platforms IPO Status: Day 2
Day-wise subscription
| Day | Date | Total bids (shares) | Bid value at upper band (₹ crore) | Subscribed (x) |
|---|---|---|---|---|
| Day 1 | Wed, Oct 21, 2026 | 59,56,57,800 | 66,654.11 | 3.02x |
| Day 2 | Thu, Oct 22, 2026 | 62,36,07,864 | 69,781.72 | 3.16x |
Category-wise subscription
| Category | Shares offered | Day 1 bids | Day 1 (x) | Day 2 bids | Day 2 (x) |
|---|---|---|---|---|---|
| QIB | 4,90,07,827 | 44,21,90,892 | 9.02x | 46,15,35,492 | 9.42x |
| NII | 3,64,44,569 | 5,79,94,920 | 1.59x | 6,12,67,392 | 1.68x |
| of which individual NII | — | 3,80,02,212 | — | 4,05,27,060 | — |
| of which corporate NII | — | 95,85,924 | — | 96,64,128 | — |
| of which other NII | — | 1,04,06,784 | — | 1,10,76,204 | — |
| Retail | 8,50,37,327 | 5,83,67,532 | 0.69x | 6,18,29,256 | 0.73x |
| Employee | 46,94,835 | 61,25,844 | 1.30x | 64,08,732 | 1.37x |
| Other reserved categories | 2,23,41,376 | 3,09,78,612 | 1.39x | 3,25,66,992 | 1.46x |
| Total | 19,75,25,934 | 59,56,57,800 | 3.02x | 62,36,07,864 | 3.16x |
The subscription data shows varying interest across investor groups. QIBs, or qualified institutional buyers, bid for 9.42x their quota, while NIIs, or non-institutional investors bidding above ₹2 lakh, reached 1.68x. Retail investors recorded a subscription of 0.73x, remaining below their allocated portion. The overall increase in the subscription multiple from day 1 to day 2 reflects activity across these segments.
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 | 19,75,25,934 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
Incorporated in 2019, Jio Platforms is a technology company focused on digital connectivity, services, and technology-led solutions. As per the DRHP, the company serves as a gateway to India’s digital economy by providing connectivity and digital services to 524.4 million customers as of March 31, 2026. Its platform encompasses mobile and fixed broadband, cloud services, IoT, and AI-based solutions. The company maintains extensive infrastructure, including 360,382 network towers and over 1.0 million route kilometres of fibre, supporting both consumer and enterprise clients across sectors like banking and power.
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 from ₹1,28,218.40 crore in FY 2024-25. Profit after tax reached ₹30,052.70 crore in FY 2025-26, up from ₹26,120.30 crore in FY 2024-25. The margin was 20.46% in FY 2025-26, compared to 20.37% in FY 2024-25.
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 could 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 present risks, as these matters could lead to adverse outcomes for the business.
- Evolving data privacy regulations, such as the DPDP Act, create uncertainty regarding compliance requirements and potential operational impacts for the company’s digital services.
- The company faces risks related to the uncertainty of achieving anticipated returns on new technology investments, which are critical to its long-term growth strategy.
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 Thu, Oct 22, 2026, 11:00 AM IST and can change. IPO investments are subject to market risks; read the offer document carefully before investing.