Business EconomyPosted at: Oct 22 2026 4:20PM

New Delhi, Oct 22 (UNI) Jio Platforms Ltd's Rs 30,213-crore initial public offering (IPO) remained firmly in demand on Thursday, the second day of bidding, with investors subscribing to all three categories of the issue. Strong participation from institutional investors, along with sustained interest from retail and non-institutional bidders, pushed subscription levels higher.
Qualified institutional buyers (QIBs) led the demand, subscribing to their reserved portion 9.66 times. Investors in this category bid for 47.33 crore shares against the 4.90 crore shares available. The non-institutional investor (NII) segment received bids for 3.7 times the shares set aside for the category, while the retail portion was subscribed 1.24 times. Retail investors placed bids for 9.64 crore shares against 8.50 crore shares on offer.
Meanwhile, the grey market premium (GMP) for Jio Platforms shares remained elevated, signalling expectations of a strong listing. According to Investorgain, the shares were trading at a premium of Rs 246 over the upper end of the IPO price band, implying a potential listing gain of around 21.98%. However, grey market premiums are unofficial indicators and do not guarantee listing-day performance.
Investor interest was already strong before the public issue opened on October 21. The IPO had attracted aggregate demand of around Rs 3.2 lakh crore, including bids from anchor investors and applications received on the first day of public subscription.
The anchor investor portion alone drew demand exceeding Rs 2.5 lakh crore, more than 30 times the shares allocated to this category. Jio Platforms raised Rs 8,109.85 crore through its anchor book by allotting shares to 212 investors at the upper end of the price band.
On the first day of bidding, investors placed applications worth Rs 69,713 crore, resulting in an overall subscription of 3.1 times. The value of bids made the offering the largest by demand among Indian IPOs that raised more than Rs 15,000 crore, based on the available figures.
The IPO has a price band of Rs 1,065 to Rs 1,119 per share. The subscription window will close on October 23, with the company's shares expected to list on October 28.UNI VK AAB