Jio Platforms’ mega IPO closed with bids for 22.19 times the shares on offer, as total demand across the public issue and anchor investor placement crossed ₹7.4 lakh crore and applications approached a world‑beating 1.39 crore. The buzz around the listing has emerged as a major talking point on Dalal Street, with the much‑awaited debut on the NSE and BSE scheduled for Wednesday, October 28. The offering is set to mark a historic moment for India’s capital markets and IPO landscape.

The public offering alone attracted bids worth more than ₹4.9 lakh crore, excluding the anchor book, and retail demand exceeded ₹25,867 crore, according to stock exchange data. The combined demand represents the value of shares investors sought, rather than the amount the company will raise. Jio Platforms’ mega IPO became the first public offer in the world to cross one crore applications, surpassing all previous IPOs globally and underscoring the unprecedented appetite for the Reliance‑backed digital services firm.

Institutional demand was the strongest component of the offering. Qualified institutional buyers bid for 345.8 crore shares against 4.9 crore reserved, taking their category to 70.55 times subscription. Non‑institutional investors subscribed 14 times their allocation, and retail individual investors bid for 2.72 times the shares reserved for them. Within the qualified institutional buyer category, domestic financial institutions, including banks, insurers and other entities, bid for 152.5 crore shares, while foreign institutional investors bid for 123.9 crore shares and mutual funds for 35,7 crore shares.

The shareholder reservation category was subscribed 7.60 times and the employee portion 2.93 times, the exchange data showed. Jio Platforms’ IPO comprised an entirely fresh issue of 27 crore shares. At the upper end of its price band, the company will raise about ₹30,213 crore and command a valuation of roughly $108 billion. Ahead of the public issue, Jio Platforms raised about ₹8,110 crore from 212 anchor investors on October 19, allotting shares at ₹1,119 apiece, the upper end of the price band.

At 9:32 AM, Reliance Industries shares were trading 0.59% lower at ₹1,194.70 on the NSE. Jio Financial Services was also down 0.13% at ₹204.96. Among other listed companies linked to the group, Reliance Industrial Infrastructure was up 1.48% at ₹669.55, while Hathway Cable & Datacom gained 0.78% to ₹9.06. DEN Networks rose 1.38% to ₹24.96, and Network18 Media & Investments advanced 4.70% to ₹24.28. Just Dial was trading flat at ₹699.10, while GTPL Hathway gained 1.84% to ₹54.37 on the NSE.