The Economic Times and The Indian Express estimated institutional demand for Jio Platforms Limited’s IPO at about ₹2.5 trillion ahead of a public sale that could exceed Hyundai Motor India Limited’s 2024 offering.
The outlets said the interest amounted to more than 30 times the shares available in the Oct. 19 anchor portion. The Economic Times reported that more than 70 institutions sought shares. Moneycontrol published the ₹2.5 trillion demand estimate on Oct. 17, before anchor bidding began; the figure is unverified as a total of formal bids placed Oct. 19.
Reuters reported a separate estimate of about $25 billion in anchor bids, citing two people familiar with the bidding.
Jio’s IPO committee approved a price range of ₹1,065 to ₹1,119 a share, its parent, Reliance Industries Limited, disclosed. The offer consists of up to 270 million new shares. If all are sold at the ceiling, the issue would raise ₹30,213 crore before the employee discount, exceeding Hyundai Motor India Limited’s ₹27,856 crore IPO in 2024.
Because the offer consists entirely of new shares, Jio would receive the net proceeds and existing shareholders’ percentage stakes would shrink. Jio plans to use part of the proceeds to prepay borrowings at its telecom subsidiary, Reliance Jio Infocomm Limited, and part for general corporate purposes. The subsidiary served 533.3 million customers in India as of June 30, 2026, Jio said.
Reliance said shares worth up to ₹2,500 crore are reserved for eligible Reliance shareholders and up to ₹500 crore for eligible employees. Public subscription is scheduled to open Oct. 21 and close Oct. 23.
