Jio IPO: demand reaches 3.49 times by Thursday morning and the retail portion is now full; bids close on Friday, 23 October

Investors are queuing up for the IPO of Jio Platforms, the digital and telecom arm of Reliance Industries. NSE data show that by 11.06 am on Thursday, 22 October, bids had come in for about 68.95 crore shares against roughly 19.75 crore on offer, a subscription of 3.49 times. The retail portion, which had been trailing, also filled up on Thursday morning. The last day to apply is Friday, 23 October.

Demand by category (as of 11.06 am, Thursday)

• Qualified institutional buyers (QIBs, excluding anchors): 9.42 times
• Non-institutional investors (NIIs): 2.39 times; bids above ₹10 lakh 2.53 times, bids of ₹2 lakh to ₹10 lakh 2.11 times
• Retail investors (up to ₹2 lakh): 1.01 times
• Reliance Industries shareholders’ reserved quota: 2.10 times
• Employees’ reserved quota: 1.62 times
• Overall: 3.49 times

ANI, citing exchange data, reported that the whole issue was covered about 100 minutes after bidding opened on Wednesday, 21 October. By the end of the first day, overall demand stood at about three times, with the institutional portion at around nine times and the retail portion at about 73 per cent. These numbers move through the day; the final figures will be known once bidding closes on Friday.

The issue at a glance

• Bidding window: Wednesday, 21 October to Friday, 23 October 2026
• Price band: ₹1,065 to ₹1,119 a share (face value ₹10)
• Lot size: 12 shares, or ₹13,428 a lot at the top of the band
• Retail investors can bid for at most 14 lots, or 168 shares (₹1,87,992), because the retail limit is ₹2 lakh
• Issue size: 27 crore new shares, about ₹30,213 crore at the upper price; there is no offer for sale by existing shareholders
• Split of the net issue: 50 per cent for institutions, 35 per cent for retail and 15 per cent for non-institutional investors
• Up to ₹2,500 crore of shares reserved for eligible Reliance Industries shareholders, with no discount
• Up to ₹500 crore reserved for eligible employees, at a discount of ₹54 a share
• Anchor investors: about ₹8,110 crore from 212 investors at ₹1,119 a share on Monday, 19 October
• Use of the money: repaying debt of the subsidiary Reliance Jio Infocomm (about ₹27,500 crore) and general corporate purposes
• Listing on BSE and NSE; the registrar is KFin Technologies

What comes next (tentative dates)

• Friday, 23 October: last day to bid; UPI mandates must be approved by 7 pm that day
• Monday, 26 October: basis of allotment finalised
• Tuesday, 27 October: money released for those who get no shares, and shares credited to the demat accounts of those who do
• Wednesday, 28 October: listing on BSE and NSE

How to apply

• You need a demat account linked to your PAN.
• In your broker’s app, open the IPO section and pick Jio Platforms. Choose your category (retail, or shareholder if you qualify), enter the number of lots and tick the ‘cut-off’ price option.
• Enter your UPI ID and approve the mandate that arrives in your UPI app. A bid without an approved mandate does not count.
• You can also apply through the ASBA facility in your bank’s net banking instead of a broker.
• The bid amount is blocked in your account, not debited, and is released if you get no shares.
• You can check your allotment on the website of the registrar, KFin Technologies, or on the BSE and NSE sites.

A separate quota for Reliance shareholders

According to brokers summarising the red herring prospectus (RHP), individuals and Hindu undivided families (HUFs) who held at least one Reliance Industries share in their demat account on 14 October 2026 can bid for up to ₹2 lakh in this quota. They may also put in a separate bid in the retail or non-institutional category. Being eligible does not guarantee shares; if demand is high, allotment follows the rules for that category.

The Mumbai connection

The RHP lists Jio Platforms’ registered office in Ahmedabad, but its corporate office is at Reliance Corporate Park in Ghansoli, Navi Mumbai. Its promoter, Reliance Industries, has its registered office at Nariman Point in Mumbai. According to the RHP, Jio’s main subsidiary, Reliance Jio Infocomm, had about 53.3 crore customers across India on 30 June 2026.

Please note

This article is for information only and is not investment advice. Investing in shares carries risk, and heavy demand for an IPO does not guarantee a gain on listing. Read the RHP or consult a SEBI-registered adviser before you invest.

Sources: NSE (Jio Platforms issue information and category-wise bids); SEBI (red herring prospectus); ANI (The Tribune); Telangana Today; Sakal (Dainik Gomantak); Saamana; Upstox (shareholder quota)