World record: Jio Platforms IPO becomes first ever issue globally to receive over 1 crore applications

Jio Platforms Ltd’s initial public offering crossed another threshold on its closing day as the IPO became the first issue globally to receive over 1 crore applications. This surpasses the earlier global record of Waaree Energies, who received 97 lakh applications.

Bidding for the $3.2 billion issue continues, with the IPO subscribed nearly 7 times and investors bidding for over 147 crore shares against 19.75 crores offered. The final application count is expected to be even higher, which could set another benchmark globally for IPOs of large telecom and technology companies. 

Jio Platforms Ltd, the largest company by market share in India’s telecom sector, opened for public offering on Wednesday with investors fully subscribing within 100 minutes. This makes it one of the fastest-subscribed offerings in India.

Retail investors fully subscribed to the issue on Thursday (October 22, 2026), signalling positive and increased sentiment towards public offerings of large Indian conglomerates. 

Typically, foreign investors and institutional buyers wait until the last day before bidding to gauge investor sentiment. 

However, Jio Platform’s issue was bidded over 10 times by qualified institutional buyers on day 2. According to the latest data from NSE, QIB demand has risen as high as nearly 15 times. Retail investors’ demand crossed 2.03 times with biddings worth 17.29 crore shares against 8.5 crore shares reserved.

As per reports, bids were largely placed on the upper end of the price band at Rs 1,119, with total demand now exceeding $15 billion. 

Anchor investors including Abu Dhabi Investment Authority, BlackRock and Fidelity have received bids of over $25 billion to reserved shares worth $854 million. The IPO will close on Friday and Jio Platforms Ltd will get listed on the exchanges on October 28.