Jio Platforms IPO Sets Record, Outshines Other Mega Issues on Day 1
Jio Platforms Ltd’s inaugural public offering, valued at ₹30,213 crore, opened on Wednesday, 21 October 2026, and achieved full subscription within 100 minutes, the fastest among India’s mega IPOs. The price band was set at ₹1,065 to ₹1,119 per share, with up to 27 crore new shares offered. The issue was subscribed 3.01 times by 5 pm on Day 1, and the anchor book of ₹8,110 crore drew demand of more than 30 times the amount on offer. Institutional investors, including global asset managers, sovereign wealth funds, domestic mutual funds and insurers, were the primary buyers.
Hyundai Motor India Ltd, the Indian subsidiary of South Korean automaker Hyundai Motor Co, launched its IPO in October 2024, raising ₹27,870 crore through an offer‑for‑sale (OFS). The issue attracted bids for only 18 % of the shares on offer on Day 1 and achieved full subscription on Day 3. As an OFS, the parent company sold a portion of its stake without issuing new shares. The offering was priced within a band that reflected the market’s modest demand, and the final subscription rate was 1.00 times the issue size.
The National Stock Exchange (NSE) launched its IPO in September 2026, raising ₹22,569 crore through an entirely OFS by existing shareholders, with no fresh issue of shares. On Day 1, the issue received bids for 42 % of the shares on offer and was fully subscribed on Day 2. The final subscription rate reached 5.7 times the issue size, reflecting strong demand from institutional investors. The IPO was priced within a band that matched the market’s valuation expectations, and the proceeds were earmarked for the exchange’s corporate purposes.
Life Insurance Corporation of India (LIC) launched its IPO in May 2022, raising ₹21,000 crore through an OFS by the government, diluting part of its stake in the state‑owned insurer. The issue was subscribed 67 % on Day 1 and achieved full subscription on Day 2. The final subscription rate was 2.95 times the issue size, indicating moderate demand. The IPO was priced within a band that reflected the market’s valuation expectations, and the proceeds were intended for the government’s disinvestment programme and general corporate purposes.
One97 Communications Ltd, operating under the Paytm brand, raised ₹18,300 crore through its IPO in November 2021. The offering comprised a fresh issue of shares and an OFS by existing shareholders. On Day 1, the issue received bids for only 18 % of the shares on offer, reflecting muted demand. The final subscription rate was 1.00 times the issue size. The IPO was priced within a band that matched the market’s valuation expectations, and the proceeds were earmarked for the company’s corporate purposes.
Coal India Ltd raised ₹15,200 crore in October 2010, receiving bids for 34 % of the shares on offer on Day 1. HDB Financial Services Ltd launched a ₹12,500‑crore IPO in June 2025, with 37 % of the shares on offer subscribed on Day 1. LG Electronics India Ltd raised ₹11,607 crore in October 2025 through an OFS that was fully subscribed by the end of Day 1, achieving a final subscription rate of 54.02 times. Tata Capital Ltd’s 2025 IPO of ₹15,512 crore received 38 % of the shares on offer on Day 1. Reliance Power Ltd’s 2008 IPO of ₹11,563 crore was fully subscribed within a minute of opening, attracting 10.55 times the shares on offer by Day 1 and 70.02 times.