# Jio Platforms IPO closes about 22 times subscribed as institutions bid 70 times their quota

Business & Markets · 23 October 2026 · Mumbai, India
URL: https://connectthedots.news/event/2026-10-23-jio-platforms-ipo-closes-about-22-times-subscribed-as-institutions

> Bidding for the roughly Rs 30,213 crore Jio Platforms IPO ended on 23 October with heavy institutional demand and modest retail interest; allotment is due 26 October and listing 28 October.

Bidding for the Jio Platforms initial public offering closed on 23 October with the issue subscribed about 22.19 times overall, according to the final-day figures compiled by Upstox. Qualified institutional buyers bid for 70.55 times the shares reserved for them, non-institutional investors 14 times and retail investors 2.72 times. [1]

Another tracker, IPOji, put the total at 21.33 times as of 7:35 pm, with bids worth about Rs 4.72 lakh crore against roughly Rs 22,103 crore of shares on offer and about 1.34 crore applications. The small gap between trackers reflects different cut-off times; official exchange figures had not been widely reported. Demand had climbed through the day, from 5.57 times at the end of day two. [2][3]

The offer, a fresh issue priced at Rs 1,065 to Rs 1,119 a share, is worth about Rs 30,213 crore at the top of the band, which Business Today called India's largest-ever IPO. Rs 2,500 crore was reserved for eligible Reliance Industries shareholders and Rs 500 crore for employees, and the upper band values the company at about Rs 10.30 lakh crore. [1][3]

Allotment is expected to be finalised on Monday, 26 October, and the shares are scheduled to list on the NSE and BSE on Wednesday, 28 October. [1][3]

## Who was involved

- [Jio Platforms](https://connectthedots.news/org/jio-platforms): Issuer of the IPO [1][3]
- [Reliance Industries](https://connectthedots.news/org/reliance-industries): Parent company; Rs 2,500 crore of shares reserved for its shareholders [3]
- [National Stock Exchange of India](https://connectthedots.news/org/national-stock-exchange-of-india): Listing venue from 28 October [3]
- [BSE](https://connectthedots.news/org/bse): Listing venue from 28 October [3]

## Linked stories

- Follow-up of: [Jio Platforms IPO, India's largest ever, is oversubscribed more than five times on day two](https://connectthedots.news/event/2026-10-22-jio-platforms-ipo-indias-largest-ever-is-oversubscribed-more-than) (22 October 2026)

## Sources

1. Upstox, "Jio Platforms IPO Day 3 Highlights: Issue ends with over 22 times subscription, QIBs quota booked 70x", 23 October 2026: https://upstox.com/news/market-news/ipo/jio-platforms-ipo-day-3-live-updates-subscription-status-price-band-lot-size-allotment-date-listing-time-oct-23-2026/liveblog-202281/
2. IPOji, "Jio Platforms IPO Subscription Status: Final Figures", 23 October 2026: https://www.ipoji.com/ipo-subscription/jio-platforms-ipo
3. Business Today, "Jio Platforms IPO: Last day to subscribe; check application deadline, UPI timings, latest GMP", 23 October 2026: https://www.businesstoday.in/markets/ipo-corner/story/jio-platforms-ipo-last-day-to-subscribe-check-application-deadline-upi-timings-latest-gmp-563187-2026-10-23