Jio IPO Opens Today: India's Biggest at Rs 30,213 Cr
Jio Platforms' Rs 30,213 crore IPO opens today, India's biggest-ever issue. Anchor investors committed Rs 8,110 crore as demand topped Rs 2.5 lakh crore.
Jio Platforms has opened its initial public offering for public subscription today, October 21, 2026. At a target raise of about Rs 30,213 crore, it is the biggest IPO in Indian history, beating Hyundai Motor India's Rs 27,870 crore issue from 2024. The offer stays open until Friday, October 23.
A record anchor book
Two days before the opening, Jio allotted 7.24 crore shares worth Rs 8,109.85 crore to 212 anchor investors at Rs 1,119 each, the top of the price band. Banking sources say the anchor book drew bids worth more than Rs 2.5 lakh crore - over 30 times the shares on offer. It is reportedly the first time an Indian IPO's anchor demand has crossed that mark.
Who bought in
LIC took the biggest slice, at Rs 499.98 crore or 6.17 percent of the anchor book, followed by New World Fund at Rs 486.27 crore, the Government of Singapore at Rs 340.93 crore, SBI Focused Fund at Rs 315 crore and BNP Paribas Financial Markets at Rs 303.25 crore. Domestic mutual funds picked up Rs 2,784.96 crore across 95 schemes from 25 fund houses, while life insurers and pension funds took Rs 1,089.95 crore. Both groups got more than their reserved quotas. Global names in the book include BlackRock, Capital Group, Fidelity, T. Rowe Price, Schroders and JPMorgan, alongside sovereign investors such as the Abu Dhabi Investment Authority, the Monetary Authority of Singapore and Norges Bank.
The offer details
The issue is an entirely fresh offering of up to 27 crore shares at a price band of Rs 1,065 to Rs 1,119 per share. At the top of the band the company is valued at about $108 billion, with a post-issue market capitalisation estimated at Rs 10.30 lakh crore. The company plans to use Rs 27,500 crore of the proceeds to repay or prepay borrowings. The grey market premium stood at about Rs 245, roughly 22 percent above the upper end of the band, pointing to an indicative listing price near Rs 1,364.
Why it matters
Jio Platforms is the digital and telecom arm of Reliance Industries and houses Reliance Jio Infocomm, India's largest wireless operator. Company disclosures show 533.3 million customers as of June 30, 2026, with its network carrying more than 60 percent of India's wireless data traffic and a 42 to 43 percent share of fixed broadband.
Sources
- BusinessToday - https://www.businesstoday.in/amp/markets/ipo-corner/story/jio-platforms-raises-rs-8110-crore-from-over-200-anchor-investors-draws-rs-2-5-lakh-cr-demand-562601-2026-10-20 - The Economic Times - https://economictimes.indiatimes.com/markets/ipos/fpos/jio-ipos-gmp-rises-to-22-as-indias-largest-ever-issue-set-to-open-on-october-21-should-you-subscribe/articleshow/135061297.cms - Daily Pioneer - https://dailypioneer.com/business/jio-platforms-raises-rs-8110-crore-from-anchor-investors - ET Now - https://www.etnownews.com/markets/jio-platforms-gets-rs-2-5-lakh-crore-in-anchor-bids-ahead-of-ipo-article-156369395/amp - Illustrated Daily News - https://www.illustrateddailynews.com/business/jio-platforms-ipo-opens-on-21-october-price-band-lot-size-anchor-investors-gmp-and-key-dates-872760