Jio Platforms IPO Day 3: Subscribed 6.04x; QIB Demand at 13.38x
Key Highlights
Jio Platforms IPO (₹22103 crore mainboard IPO) was subscribed 6.04x on Day 3 of 3, with QIB at 13.38x. See category-wise subscription and day-wise bids.
Last updated: Fri, Oct 23, 2026, 11:00 AM IST · mainboard · & · Day 3 of 3
- Jio Platforms IPO subscribed 6.04x overall on Day 3, up from 5.20x on Day 2
- Total bids: 1,19,21,93,148 shares against 19,75,25,934 shares on offer
- Category-wise: 13.38x, 7.42x, 1.75x, Employee 2.28x
- Price band: ₹1065 to ₹1119 per share
- The issue closes on Fri, Oct 23, 2026
The Jio Platforms IPO concluded its third and final day of bidding with an overall subscription multiple of 6.04x as of 11:00 AM IST on October 23, 2026. This reflects an increase from the 5.20x subscription recorded at the end of the second day. The qualified institutional buyers (QIB) category, which consists of financial institutions like banks and mutual funds, emerged as the most-bid segment at 13.38x.
Jio Platforms IPO Status: Day 3
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 | 1,02,68,02,356 | 1,14,899.18 | 5.20x |
| Day 3 | Fri, Oct 23, 2026 | 1,19,21,93,148 | 1,33,406.41 | 6.04x |
Category-wise subscription
| Category | Shares offered | Day 2 bids | Day 2 (x) | Day 3 bids | Day 3 (x) |
|---|---|---|---|---|---|
| QIB | 4,90,07,827 | 60,35,49,612 | 12.32x | 65,57,19,888 | 13.38x |
| NII | 3,64,44,569 | 20,13,24,144 | 5.52x | 27,05,51,592 | 7.42x |
| of which individual NII | — | 17,11,01,868 | — | 23,44,08,708 | — |
| of which corporate NII | — | 1,32,45,756 | — | 1,65,21,936 | — |
| of which other NII | — | 1,69,76,520 | — | 1,96,20,948 | — |
| Retail | 8,50,37,327 | 12,64,19,040 | 1.49x | 14,90,97,444 | 1.75x |
| Employee | 46,94,835 | 95,33,196 | 2.03x | 1,06,98,804 | 2.28x |
| Other reserved categories | 2,23,41,376 | 8,59,76,364 | 3.85x | 10,61,25,420 | 4.75x |
| Total | 19,75,25,934 | 1,02,68,02,356 | 5.20x | 1,19,21,93,148 | 6.04x |
By the final day, all investor categories had subscribed to their respective quotas. The QIB category led the interest at 13.38x, followed by non-institutional investors (NII) at 7.42x. Retail investors, defined as individual bidders applying for shares worth up to ₹2 lakh, subscribed 1.75x. The day-on-day increase in total subscription was supported by consistent bidding across all segments throughout the three-day window.
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
Jio Platforms is a technology company focused on digital connectivity, digital services, and technology-led solutions in India. As per the DRHP, the company serves as a gateway to India’s digital economy, providing services to sectors such as banking, power, and IT. Its integrated platform encompasses mobile and fixed broadband, cloud services, Internet of Things, and artificial intelligence. The company operates extensive infrastructure, including 360,382 network towers and over 1.0 million route kilometres of fibre. As of June 30, 2026, its subsidiary, Reliance Jio Infocomm Limited, served 533.3 million customers across its pan-India 4G and 5G network.
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 rose to ₹1,28,218.40 crore in FY 2024-25 and further to ₹1,46,885.30 crore in FY 2025-26. Profit after tax followed a similar trend, increasing to ₹26,120.30 crore in FY 2024-25 and ₹30,052.70 crore in FY 2025-26. 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.
- There are potential adverse outcomes from outstanding legal proceedings involving the company, its subsidiaries, promoters, and directors, which could affect its operations or financial standing.
- The business is subject to evolving data privacy regulations, such as the DPDP Act, which may require adjustments to its digital services and technology-led solutions.
- The company faces uncertainty regarding the achievement of anticipated returns on new technology investments, which are central to its strategy of providing digital connectivity and services.
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 Fri, Oct 23, 2026, 11:00 AM IST and can change. IPO investments are subject to market risks; read the offer document carefully before investing.