Jio Platforms IPO Draws Strong Day 2 Demand as Overall Subscription Reaches 3.47 Times

Reliance Industries-backed Jio Platforms’ ₹30,213-crore initial public offering (IPO) continued to attract strong investor interest on Thursday, with the retail portion fully subscribed within two hours of bidding on the second day.

The issue was subscribed 3.47 times overall by 11 am, with qualified institutional buyers (QIBs) leading the demand at 9.42 times their allotted quota. Non-institutional investors subscribed 2.34 times, while the shareholders’ category was subscribed 2.06 times. The employees’ portion received bids worth 1.61 times its reserved quota.

The strong institutional response highlights the significant interest in the telecom and digital services giant, while the completion of retail subscriptions adds to the momentum surrounding one of India’s biggest public offerings.

The IPO had already received an exceptional response on Wednesday, its opening day, when it was fully subscribed within 100 minutes. By the close of bidding on the first day, investors had placed bids worth approximately ₹69,800 crore for 62.36 crore shares.

The offering will remain open until October 23, giving investors one more day to submit their applications. The issue has a price band of ₹1,065 to ₹1,119 per share.

With institutional demand substantially exceeding the shares reserved for that category and retail participation reaching full subscription early on Day 2, investor attention is now focused on the final subscription figures and the next steps in the allotment process.