Jio Platforms IPO breaks records: How Hyundai, NSE, LIC and other mega issues fared on Day 1

Jio Platforms’ ₹30,213 crore initial public offering (IPO) achieved full subscription within 100 minutes of opening on Wednesday, October 21, making it the fastest among India’s mega IPOs to reach this milestone.

The strong opening-day response stands in contrast to several other large public issues that saw muted demand on Day 1. Reliance Power remains a notable exception, having been fully subscribed within just a minute of opening in 2008.

Jio Platforms Ltd -- ₹30,213 crore (2026)

The digital services company is set to create history with its ₹30,213 crore IPO, which would be India's largest-ever public issue, surpassing Hyundai Motor India's ₹27,870 crore offering in 2024.

Hyundai Motor India Ltd -- ₹27,870 crore (2024)

The Indian subsidiary of South Korean automaker Hyundai Motor Co raised ₹27,870 crore through its IPO in October 2024. The issue was entirely an offer for sale (OFS), allowing the parent company to sell part of its stake.

It received bids for only 18% of the shares on offer on the first day and achieved full subscription on Day 3.

National Stock Exchange (NSE) -- ₹22,569 crore (2026)

The country's leading stock exchange launched its IPO in September 2026. The issue was entirely an OFS by existing shareholders, with no fresh issue of shares. It received bids for 42% of the shares on offer on Day 1 and was fully subscribed on Day 2. Finally, the issue was subscribed 5.7 times.

Life Insurance Corporation of India (LIC) -- ₹21,000 crore (2022)

India's largest insurer by assets launched its IPO in May 2022. The issue was an OFS by the government, which diluted part of its stake in the state-owned insurer. The offering was subscribed 67% on the first day and achieved full subscription on Day 2. Eventually, the public issue was subscribed 2.95 times.

One97 Communications (Paytm) -- ₹18,300 crore (2021)

The digital payments and financial services company, which operates under the Paytm brand, raised ₹18,300 crore through its IPO in November 2021. The offering comprised a fresh issue of shares and an OFS by existing shareholders. It received bids for only 18% of the shares on offer on the first day.

Tata Capital Ltd -- ₹15,512 crore (2025)

The non-banking financial company launched its maiden public offering in October 2025. The issue comprised a fresh issue of shares and an OFS by existing shareholders. It received bids for 38% of the shares on offer on Day 1.

Coal India Ltd -- ₹15,200 crore (2010)

The state-owned coal producer raised around ₹15,200 crore through its IPO in October 2010 as part of the government's disinvestment programme. The issue received bids for 34% of the shares on offer on the first day.

HDB Financial Services Ltd --₹12,500 crore (2025)

HDB Financial Services launched its Rs 12,500-crore IPO in June 2025 to meet the Reserve Bank of India's listing requirements for large upper-layer non-banking financial companies. The issue received bids for 37 per cent of the shares on offer on Day 1.

LG Electronics India Ltd --₹11,607 crore (2025)

The Indian arm of South Korean conglomerate LG Electronics launched its ₹11,607 crore IPO in October 2025. The issue was entirely an OFS and achieved full subscription by the end of the first day. Demand surged further, with the offering subscribed 54.02 times on the final day.

Reliance Power Ltd -- ₹11,563 crore (2008)

Reliance Power, which was part of the Anil Dhirubhai Ambani Group at the time, raised around ₹11,563 crore through its IPO in January 2008. The issue was fully subscribed within a minute of opening and attracted bids for 10.55 times the shares on offer by the end of the first day. It was eventually subscribed 70.02 times overall.

Jio Platforms IPO: Key details

Jio Platforms' IPO attracted institutional demand of about ₹2.5 lakh crore, with global asset managers, sovereign wealth funds, domestic mutual funds and insurers among investors seeking a stake in the Reliance Industries subsidiary ahead of its stock market debut.

The company's ₹8,110 crore anchor book drew demand of more than 30 times the amount on offer, according to figures provided for the transaction.

Jio Platforms is seeking to raise about ₹30,213 crore through the IPO, which will close on October 23.

The price band has been set at ₹1,065 to ₹1,119 a share, with the offering comprising up to 27 crore new shares.

The proceeds are intended in part to support debt repayment at its telecom subsidiary, alongside general corporate purposes, according to the company's offer documents.