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Jio Platforms IPO reaches 6.76 times subscription on day three

The Indian digital services firm's offering reached 6.76 times subscription on day three, led by institutional interest.

OSH Desk1 min read

Jio Platforms has seen its initial public offering of approximately ₹30,213 crore (about $3.2 billion) subscribed 6.76 times by the third day of bidding [1].

Institutional interest drove the subscription, with the qualified institutional buyer tranche reaching 14.18 times [1]. Shares are priced within a band of ₹1,065 to ₹1,119 per share, setting the enterprise's estimated valuation at ₹10.3 lakh crore [1]. Ahead of the broader public issue, the company secured ₹8,109.8 crore from anchor investors [1]. Anchor participants included BlackRock, the Abu Dhabi Investment Authority, the Government of Singapore, HDFC Mutual Fund, ICICI Prudential Mutual Fund, and SBI Mutual Fund.

Jio Platforms operates as the digital services branch of Reliance Industries, providing enterprise software, cloud infrastructure, and telecommunications services. The company plans to apply the net capital proceeds to prepay borrowings for Reliance Jio Infocomm alongside funding general corporate activities.

Questions and answers

What is the size and valuation of the Jio Platforms IPO?

The offering is valued at approximately ₹30,213 crore (about $3.2 billion), setting the enterprise valuation at an estimated ₹10.3 lakh crore.

How did institutional buyers respond during the third day?

The portion reserved for qualified institutional buyers reached a 14.18 times subscription rate by day three.

Who participated as anchor investors?

Anchor backers included BlackRock, the Government of Singapore, the Abu Dhabi Investment Authority, SBI Mutual Fund, HDFC Mutual Fund, and ICICI Prudential Mutual Fund.

TopicsIPOs

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Sources

  1. 1.Jio Platforms IPO Booked 6.76X On Day 3 So Far, QIB Portion Subscribed 14.18X — Inc42, Oct 23, 2026

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