Jio IPO Makes History, Crosses 10 Million Applications for the First Time in India, First time in the world.
- Final day today, bidding remains open until 7 pm
- Breaks Waaree Energies’ previous record of 9.73 million applications
- ₹30,213 crore IPO subscribed 6.89 times; QIB portion sees 14.38 times demand
Mumbai, October 23, 2026: India’s biggest IPO has set a new record. For the first time in the history of the Indian stock market, an IPO has received more than 10 million applications. Jio Platforms’ ₹30,213 crore public issue crossed the milestone on Friday, the third and final day of bidding. As of 12 noon on Friday, the IPO had received 10,015,118 applications and was subscribed 6.89 times. The Qualified Institutional Buyers (QIB) portion was subscribed 14.38 times.
The previous record was held by Waaree Energies, which received 9.73 million applications for its IPO in October 2024. Jio has now surpassed that mark. The Jio IPO attracted around 3.05 million applications on Day 1, with the number crossing 7.5 million by the end of Day 2. On Friday, it crossed the historic 10 million mark.
Demand remained strong across all major investor categories. The Non-Institutional Investors (NII) portion was subscribed 9.38 times, while the retail portion was subscribed 2.07 times. The employee portion was subscribed 2.48 times and the portion reserved for eligible Reliance Industries shareholders reached 5.68 times. All major investor categories are now fully subscribed.
The Jio IPO opened on October 21 and was subscribed 3.16 times on the first day. Subscription rose to 5.57 times by the end of Day 2. Friday, October 23, is the final day to apply, with bidding open until 7 pm. Investors still have time to participate, and both subscriptions and application numbers could rise further before the issue closes.
