Jio Mere Lal: Rs302Bn IPO Subscribed in <100 Minutes, 3.16x on Day1

Backed by RIL, the mega public issue subscription numbers showed a massive surge driven primarily by institutional demand, while retail interest remained relatively measured

Akash Ambani, Managing Director, Jio Platforms

FinTech BizNews Service    

Mumbai, 21 October, 2026: Jio Platforms' Rs30,213 crore IPO concluded Day 1 of bidding with an overall subscription of 3.16 times on Wednesday, October 21, 2026. Backed by Reliance Industries Limited (RIL), the mega public issue created history by achieving 100% full subscription in less than 100 minutes of opening. Jio Platforms' Rs30,213 crore IPO broke multiple capital-market records on Day 1 of subscription, becoming India’s largest-ever public offering and the fastest mega-IPO to achieve full subscription in just 100 minutes. 

Isha Ambani, Director, Jio Platforms

Category-Wise Subscription Status (Day 1 Close)

The subscription numbers showed a massive surge driven primarily by institutional demand, while retail interest remained relatively measured:

• Qualified Institutional Buyers (QIBs): Booked 9.42 times.

• Non-Institutional Investors (NIIs): Booked 1.68 times.

• RIL Shareholders: Booked 1.46 times.

• Employees: Booked 1.36 times.

•Retail Individual Investors (RIIs): 0.66x – 0.71x (undersubscribed) 

Hourly & Day 1 Progression

• 10:03 AM: 0.84x subscribed
• 10:12 AM – 10:30 AM: ~0.86x – 0.91x subscribed (QIBs at 2.90x)
• 10:41 AM: 1.03x subscribed (fully subscribed within hours)
• 1:58 PM: 1.72x subscribed
• 2:49 PM: 2.37x subscribed
• 4:00 PM: 2.80x subscribed
• 4:33 PM (Close of Day 1): 3.02x subscribed 

Key Records Broken

Jio Platforms' Rs30,213 crore IPO broke multiple capital-market records on Day 1 of subscription, becoming India’s largest-ever public offering and the fastest mega-IPO to achieve full subscription in just 100 minutes. 

• India's Largest-Ever IPO: At Rs30,213 crore ($3.6 billion), it surpassed Hyundai Motor India's Rs27,870 crore issue from 2024 to become the largest IPO in Indian market history. 
• Fastest 100% Subscription for a Mega-Issue: Fully booked within 100 minutes of opening on Day 1. 
• Fastest QIB Full Booking: The Qualified Institutional Buyers (QIB) portion was fully subscribed in under 30 minutes (reaching 9.4x by market close). 
• Record Single-Day Bid Value: Drew over Rs69,800 crore to Rs90,500 crore in total bids on Day 1 alone, closing the first day over 3.16 times subscribed. 
• Highest-Ever Anchor Demand: Generated an unprecedented Rs2.5 lakh crore+ in anchor book demand for its Rs8,110 crore anchor allocation (oversubscribed over 30x). 
• Largest 100% Fresh Issue in India: Unlike prior mega-IPOs (such as LIC and Hyundai, which were pure Offer-for-Sale/OFS), this was structured as an entirely fresh capital raise