Jio Platforms prices India’s biggest IPO at ₹1,065–1,119 a share

2026-10-13

Jio Platforms’ IPO was fully subscribed within 100 minutes of opening on Oct. 21, making it the fastest-ever subscribed offer.
Jio’s IPO ran Oct. 21–23, offering 27 crore new shares at ₹1,065–1,119 each and raising about ₹30,213 crore; it listed on Oct. 28 at ₹1,358, 21.36% above the issue price.
At the top of the price range, the offer values Jio Platforms at about ₹10.3 lakh crore and would surpass Hyundai Motor India’s 2024 IPO as India’s largest.
Akash Ambani said the proceeds would eliminate $3 billion in net debt, while Jio would fund future growth through free cash flow.
The IPO consists entirely of newly issued shares, with no existing shareholders selling their stakes.
Anand Rathi recommended subscribing for the long term, saying the valuation was reasonable relative to Jio’s growth prospects.

Jio Platforms' IPO fully subscribed in 100 minutes of opening, marks fastest-ever subscribed offer (The Hindu)
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Jio Platforms IPO turns largest subscribed issue; investors bid over 20.5 times on day 3 (The Hindu)
Jio Platforms IPO: Should you subscribe? Anand Rathi sees long-term potential in AI, reasonable valuations (Mint)
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