Jio Platforms Limited closed a ₹30,213 crore (₹302.13 billion) initial public offering Oct. 23 after demand reached 22.19 times the shares in its public book, National Stock Exchange of India (NSE) data showed. NSE's final tally put bids at about 4.38 billion shares, compared with roughly 197.5 million shares available in the public portion.
The company offered 270 million new shares at ₹1,065 to ₹1,119 each. The ₹30,213 crore issue value is calculated at the top of that range. Jio Platforms' red herring prospectus describes the sale as a fresh issue without an offer-for-sale component.
The prospectus says up to ₹27,500 crore in net proceeds would go toward prepaying or repaying borrowings at material subsidiary Reliance Jio Infocomm. That makes debt repayment a central stated use of the proceeds.
Demand varied across investor groups. Qualified institutional buyers bid for 70.55 times their reserved shares, NSE data showed. Non-institutional investors subscribed 14 times their allocation, while retail investors subscribed 2.72 times.
Three unofficial trackers posted different readings on Oct. 24: GMPWatch listed ₹250 per share, IPOMarkets ₹248 and IPOmetrics ₹254.60. Compared with the ₹1,119 price ceiling, those figures imply premiums of about 22.2% to 22.8%. They are not exchange prices. Jio Platforms' prospectus says the offer price should not be considered indicative of the shares' price after listing.
At the top of the price range, Jio's issue value exceeds the ₹27,856 crore size of Hyundai Motor India's 2024 IPO, according to the companies' prospectuses. The current tracker readings follow EconoTimes' earlier coverage of Jio's pre-IPO grey-market activity.
The prospectus sets an indicative timetable, with the basis of allotment expected on or about Monday, Oct. 26, refunds and share credits around Oct. 27, and trading on or about Oct. 28. These dates remain estimates in the filing.
