Jio IPO Day 3: A record number of applications
The Jio IPO received a massive response on the last day. It crossed one crore applications, making it the first public offer to have crossed that mark across the world. It has surpassed the previous record of Waaree Energies, where 97 lakh applications were received.
The subscription numbers also show that demand wasn’t limited to one category. Institutional investors placed large bids, and non-institutional demand was also strong.
Jio Platforms IPO Details
The Jio Platforms IPO is a fresh issue of shares. This means the company will issue new shares instead of letting existing shareholders sell their shares through an Offer for Sale (OFS). Other key details about the issue include:
The issue has officially become India’s largest IPO by size with a valuation of ₹30,213 crore. It has gone ahead of Hyundai Motor India’s ₹27,858.75 crore public issue in 2024.
IPO Proceeds
Jio Platforms intends to allocate up to ₹27,500 crore from the issue proceeds toward paying down the debt of its subsidiary, Reliance Jio Infocomm. The remaining amount is intended for general corporate activities.
Using the amount to reduce debt could lower interest costs. However, Jio still faces competition from other telecom operators like Bharti Airtel and needs to keep investing in its network and technology.
Jio Platforms: About the company
Jio Platforms is the digital and telecom business of Reliance Industries, with its main subsidiary being Reliance Jio Infocomm. It’s a popular name in India, providing mobile and broadband services. Apart from that, it also offers enterprise services, cloud technology and digital products. They are expanding into newer areas, including artificial intelligence.
By June 2026, Jio’s subscriber base reached almost 533 million. Also, it accounted for nearly 60% of India’s wireless data traffic. Its large customer base gives it a strong position in the telecom world. Its future growth depends on how it attracts customers to use its digital services.
A quick look at financials
Jio Platforms recorded steady year-on-year (YoY) growth in revenue and profit over the last two fiscal periods. Revenue from operations increased by around 14.6% in FY26, while profit after tax rose by about 15%. Here’s a summary of its financials:
What happens after the Jio IPO closes?
Now that the Jio IPO Day 3 has ended, the next step is allotment. The allotment status is expected to be published on October 26, 2026. If shares are allotted to you, you can expect them to be credited to your demat account on October 27. If you don’t receive shares, the blocked money for your application will be unblocked on the same day.
You can check the allotment status of your Jio IPO application either on the NSE, BSE or registrar KFin Technologies website. You may have to keep some details like PAN number, application number, demat account number, or bank account number ready to check the allotment status. The shares of Jio Platforms will officially debut on the stock exchanges on October 28, 2026.
If you don’t get the allotment, it won’t stop you from investing in Jio Platforms. You can still analyse the company’s listing price and see if the valuation still makes sense to you. Once listed, anyone can freely buy and sell Jio Platforms shares, like other shares on the stock exchanges.
The bottom line
The response on Jio IPO Day 3 shows that many investors wanted a share in the company. But strong demand is only one part of an investment decision. Once the shares are listed, the focus will shift to the actual market price and the company’s performance as a listed business.
If you are a new investor, you should look beyond the IPO excitement and understand the company. Consider the price of the stock and whether the valuation makes sense for your investment goals before committing money to any stock.
