समाचार Samāchār · Business · 23 October 2026

Jio Platforms’ ₹30,213 crore IPO closes with record investor demand

Reliance’s digital arm drew more than 12 million applications for India’s biggest share sale. Listing is due on 28 October at a valuation of about ₹10.3 lakh crore.

Jio Platforms, the digital and telecom arm of Reliance Industries, closed its initial public offering on Friday 23 October subscribed more than 13 times, according to Reuters. A Reliance official said it drew over 12 million applications, a record for India.

The ₹30,213 crore offer, about $3.2 billion, was priced at ₹1,065 to ₹1,119 a share and was entirely fresh issue. Institutional buyers bid about 35 times their quota. Retail investors bid 2.48 times, employees 2.77 times and Reliance shareholders 7.16 times, on Reuters’ final figures.

Anchor investors including the Abu Dhabi Investment Authority, BlackRock and Fidelity came in on 19 October. Public bidding opened on 21 October and was fully covered within two hours.

At the top of the band the company, led by Akash Ambani, is valued at about ₹10.3 lakh crore. Jio reported FY26 net profit of ₹30,052.7 crore on revenue of ₹1,49,759.1 crore, according to Business Today. The shares are due to list on the NSE and BSE on 28 October.

What a founder takes from it: Public markets will pay up for scale that already earns. The listing bar in India is now profit, not promise.