1.68x subscribed in 4 hours: Jio IPO draws over 2 million applications
- India’s biggest IPO sees a flood of applications as investor interest stays strong
- Employee quota fully subscribed; shareholder quota reaches 92%
- Heavy demand from institutional investors, QIB portion subscribed 4.86 times
Mumbai, October 21, 2026: Applications are pouring into the Jio IPO. In just four hours, Jio Platforms’ ₹30,213 crore IPO was subscribed 1.68 times. By 1 pm on Wednesday, the issue had attracted 20,73,475 applications. Along with strong interest from institutional investors, Reliance employees and shareholders also showed solid interest. The employee quota was fully subscribed, while the shareholder quota was subscribed 92%.
The strongest demand in the Jio IPO came from Qualified Institutional Buyers (QIBs). By 1 pm, the QIB portion was subscribed 4.86 times. The retail portion, meanwhile, was subscribed 0.51 times. The IPO will remain open for subscription till October 23.
Reliance Industries’ eligible shareholders have a reserved portion of up to ₹2,500 crore in the Jio IPO, while employees have a reserved quota of up to ₹500 crore. Eligible Reliance shareholders can apply in both the retail and shareholder categories, giving them an additional chance in the allotment process.
