Jio Platforms' ₹30,213 crore IPO was subscribed 5.57 times at the end of its second day, 22 October 2026, according to Business Standard, up from 3.16 times on day one. The price is ₹1,119 a share at the top of the band. The issue closes on 23 October, so these figures can still change.
Demand by category
Qualified institutional buyers bid 13.29 times, or about 65 crore shares against 4.9 crore reserved, against 9.42 times on day one. Domestic financial institutions bid for about 34.4 crore shares, foreign institutions for 22.3 crore and mutual funds for 4.2 crore. Non-institutional investors bid 5.97 times, with bids above ₹10 lakh at 6.76 times and ₹2–10 lakh at 4.38 times. Existing shareholders bid 4.04 times and employees 2.10 times. Retail investors bid 1.54 times, or 13.1 crore shares against 8.5 crore. Day-one figures are revised from the 3.04 times and 9.04 times in earlier reports, which were taken at 5:55 pm on 21 October.
Retail and the market
Retail was the least subscribed category. Analyst Sandeep Gupta of Valmiki Leela Capital said retail restraint "looks more like arithmetic than apathy", and analysts cited shareholder-quota bidding and the valuation. Business Standard says Reliance Industries closed down 2.03% at ₹1,184.50, and an analyst puts the market value near ₹10.3 trillion, about 33 times FY26 earnings. It says day-two demand exceeded that of India's five biggest IPOs, with NSE's at 1.63 times and Hyundai Motor India's at 0.59 times at the same stage. India TV, citing Investorgain, quotes an unofficial grey market premium of ₹247, about 22%. That is not an official figure and not investment advice.
Key numbers
- Overall, day 2: 5.57 times (From 3.16 times on day 1)
- Institutional (QIB): 13.29 times (About 65 crore shares bid)
- Non-institutional: 5.97 times (Bids above ₹10 lakh at 6.76 times)
- Retail: 1.54 times (Least subscribed category)
What boards and CFOs should note
Three points stand out. First, institutional demand is carrying the issue. Second, retail is above one times but well behind other categories. Third, final subscription after today's close is the number to watch.
Source: Business Standard, 22 October 2026. This is a summary of a news report, published as general information. It is not legal, tax or investment advice.
This article is journalism and commentary. It is not a recommendation to buy or sell any security, and it is not professional advice. Read the full disclaimer.
