Jio IPO’s 7 records in 3 days:Country’s biggest share issue fully subscribed in 100 minutes, receiving bids 22 times the target

On 5 September 2016, Reliance began distributing free SIM cards under the name ‘Jio’. It also offered free internet for the next six months. Customers queued up at Jio stores. Ten years later, when Jio brought India’s largest IPO, people rushed to it once again. Jio became the first IPO in the world to receive more than 1 crore applications, and set seven records in three days. First record: The world’s first IPO to cross 1 crore applications In the history of global stock markets, Jio Platforms has become the first IPO to receive more than 10 million, or 1 crore, applications from individual investors. Before this, the record was held by India’s Waaree Energies, which received approximately 97.3 lakh applications. Second record: The largest IPO in Indian corporate history Jio Platforms’ IPO, with an issue size of ₹30,213 crore, has become the largest equity offering in India’s history. The record was previously held by Hyundai Motor India. Third record: Highest number of public subscription bids Total demand for Jio Platforms’ IPO, including the anchor book, stood at ₹7.4 lakh crore. Bids worth more than ₹4.9 lakh crore were received from the public subscription category. Based on the data, it has become India’s largest IPO in terms of the value of bids received outside the anchor book, surpassing the record set by LG Electronics India’s 2025 IPO. In addition, the anchor book received demand of around ₹2.5 lakh crore against shares worth ₹8,110 crore allocated to anchor investors. Fourth record: The largest IPO comprising entirely fresh shares The entire ₹30,213 crore issue comprised 27 crore new shares. Unlike an offer-for-sale (OFS) IPO, neither the parent company, Reliance Industries, nor strategic investors Meta and Google sold any of their stake in the issue. Fifth record: The fastest mega IPO to be fully subscribed The issue was fully subscribed in less than 100 minutes of opening on the first day. Before this, Indian IPOs worth more than ₹15,000 crore typically took two to three days to be fully subscribed. Sixth record: The first IPO to extend bidding hours To handle the heavy application volume, the BSE and NSE extended the daily bidding hours for this IPO. The bidding window, which usually runs from 10 a.m. to 5 p.m., was kept open from 9 a.m. to 7 p.m. for this issue. Seventh record: Highest initial market valuation for a newly listed company At the upper price band of ₹1,119 per share, Jio Platforms’ post-listing market capitalisation is estimated to be around ₹10.3 lakh crore. On the first day of trading, it will become one of India’s four or five most valuable listed companies. The IPO was subscribed 22.19 times in three days According to the NSE, the IPO was subscribed 22.19 times in three days. Investors placed bids for more than 438 crore shares against the 19.75 crore shares offered. Institutional investors show the highest demand Qualified institutional buyers (QIBs), or large investors, showed the greatest interest in the IPO. Their reserved portion was subscribed 70.55 times, with bids received for more than 345.75 crore shares against the 4.9 crore reserved shares. The portion reserved for non-institutional investors (NIIs) was subscribed 14 times, with bids placed for 51.03 crore shares against 3.64 crore shares. In the retail individual investor (RII) category, bids were received for 23.11 crore shares against 8.5 crore reserved shares, taking the subscription to 2.72 times. What are a fresh issue and an offer for sale? Fresh issue: In this, the company raises funds from the market by issuing new shares, and the money goes directly towards expanding the company’s business. Offer for Sale (OFS): In this process, the company’s existing promoters or investors sell their shares to exit or realise profits. The money does not go to the company.