The Jio IPO, which remained open from the 21st to the 23rd of this month, set several records. During these three days, the Rs 30,213 crore Jio Platforms IPO received over 13.8 million (1.38 crore) applications—the highest number of applications ever received for any IPO globally. The IPO was subscribed more than 22 times, with total bids from anchor and non-anchor investors reaching approximately Rs 7.40 lakh crore. The Jio IPO is scheduled to be listed on the stock exchange on October 28.

All eyes are now on the potential listing gains for investors. Going by grey market data, the issue is unlikely to disappoint those who invested, with expectations of significant gains upon listing. According to IPOWatch.in, a website that tracks the grey market, shares of the Jio IPO are currently trading at a premium of Rs 250. Based on the upper end of the price band—Rs 1,119—investors could potentially see a listing gain of 22.34%.

Strong participation from retail investors

Retail investors invested heavily in the Jio IPO. While 85 million (8.5 crore) shares were reserved for retail investors, bids were received for over 230 million (23 crore) shares—representing a demand 2.72 times the number of shares available. The Qualified Institutional Buyer (QIB) category was subscribed 70.55 times, the Non-Institutional Investor (NII) category 14 times, the Reliance shareholder quota 7.60 times, and the employee quota 2.93 times.

Share allotment on October 26

The allotment of shares for the Jio IPO will take place on October 26. The shares will be credited to demat accounts on October 27, and Jio Platforms is scheduled to be listed on the BSE and NSE on October 28.

Jio IPO Breaks Records
In terms of the number of applications, the Jio IPO has shattered the previous record by a significant margin. Previously, the record for the highest number of applications was held by Waaree Energies, whose IPO received 9.734 million (97.34 lakh) applications in October 2024. The Jio IPO has received approximately 42% more applications than that. On the first day, the Jio IPO saw around 3.05 million (30.5 lakh) applications, while by the end of the second day, this figure had crossed 7.5 million (75 lakh). By the third day, the number of applications had surpassed 13.8 million (1.38 crore).

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