Jio Platforms IPO Reaches 3.55x Subscription on Day 2 as Retail Portion Crosses 1x

MUMBAI — The initial public offering (IPO) of Jio Platforms continued to see strong participation, recording an overall subscription of 3.55 times by the second day of the bidding process. The public issue, which opened for subscription on October 21, is scheduled to close on Friday, October 23.

According to subscription data from the offering, investors placed bids for 70.02 crore shares against the 19.75 crore shares on offer across various categories. Demand was also reflected in the retail portion, which crossed the 1x subscription mark.

Market participants noted strong demand across investor categories, including robust bidding from Qualified Institutional Buyers (QIBs) and Foreign Institutional Investors (FIIs). The early uptake positions the offering as a notable market debut amid current broader market activity, which also coincides with the scheduled quarterly financial result announcements from several other major listed companies.

The three-day bidding window remains open until October 23, giving remaining prospective investors time to participate before the subscription closes.

"The early traction seen in the Jio Platforms IPO, particularly crossing the 1x threshold in the retail segment by day two, reflects strong market liquidity and investor confidence in large-scale digital infrastructure plays. When an issue of this scale records multi-fold subscription figures within the first two days, it often sets a benchmark for upcoming listings in the Indian capital markets, signaling healthy appetite among both institutional and retail participants." — Dr. Shishir Gupta, Founder & CEO, StartupLanes