Jio Platforms rewrites global records with over 1 cr IPO applications

Jio Platforms, a subsidiary of Mukesh Ambani’s Reliance Industries, has created history by setting an all-time global record in the primary market. It has become the first public issue to attract over 10 million (1 crore) applications—a feat never before achieved by any other IPO worldwide. This historic milestone was reached following an overwhelming response from investors, even before the bidding process concluded on October 23, 2026.

Jio has shattered all previous records for the highest number of applications received by an IPO, both in India and globally. It surpassed the record previously held by the Waaree Energies IPO, which had garnered 9.7 million (97 lakh) applications. Notably, while the IPOs of Bajaj Housing Finance and Bharat Coking Coal each received approximately 9 million (90 lakh) applications, Jio has surged well ahead of them, crossing the 10 million mark.

The Jio IPO has garnered an overall demand exceeding Rs 4 lakh crore. This includes approximately Rs 2.5 lakh crore from anchor investors and another Rs 1.5 lakh crore in bids from retail investors. At the time of writing, the total subscription stood at 7.93 times the issue size—with the institutional investor category subscribed 16.87 times, the non-institutional investor category 10.90 times, and the retail investor category 2.23 times. The value of retail bids has surpassed Rs 21,250 crore. Furthermore, the category reserved for eligible employees saw a subscription of 2.59 times, while the category for Reliance Industries shareholders received a response of 6.29 times. Against a total issuance of 19.75 crore shares, bids were received for 156.58 crore shares.

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Pavan Bandari

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I am content writer with six years of experience in entertainment and politics besides other modules as well.