Story perspectives

Jio Platforms IPO fully subscribed in 100 minutes

By Drooid · Oct 21, 2026, 10:10 AM UTC · How we work

Summary

Story summary

Jio Platforms IPO reached full subscription within 100 minutes, setting a speed record.
The issue aims to raise INR30,213 crore by issuing 27 crore shares at INR1,065-INR1,119 each.
Qualified Institutional Buyers subscribed the QIB tranche 2.86 times in 30 minutes, driving early demand.
Reliance retains majority control and will use up to INR27,500 crore of proceeds to repay telecom debt.

History

Historical Context

The 1999 Reliance Industries' public offering of Reliance Infocomm, raising INR5,000 crore, marked India's early telecom privatization and signaled a shift toward private sector participation. The issue attracted 1,200 institutional investors, with the QIB tranche oversubscribed 3.5 times, while the National Stock Exchange recorded a record 1.2 billion shares traded that day. Similarly, Jio Platforms' 2024 IPO secured INR30,213 crore, with QIBs subscribing 2.86 times in 30 minutes, echoing the rapid institutional demand of the 1999 offering. These patterns illustrate India's markets, prompting the Securities and Exchange Board of India to revise norms and encouraging firms to use proceeds for debt reduction.

1 of 2

Story summary

Jio Platforms IPO reached full subscription within 100 minutes, setting a speed record.
The issue aims to raise INR30,213 crore by issuing 27 crore shares at INR1,065-INR1,119 each.
Qualified Institutional Buyers subscribed the QIB tranche 2.86 times in 30 minutes, driving early demand.
Reliance retains majority control and will use up to INR27,500 crore of proceeds to repay telecom debt.

1 / 2