Jio Platforms IPO: From record-breaking size to lightning-fast subscription, 7 milestones that make it historic

The country’s largest-ever public issue is the buzzing topic on investors' minds today as it opened for subscription at 9:00 am. After securing a robust response from anchor investors, the Jio Platforms IPO has seen similar traction from retail and institutional investors as well. Meanwhile, shares of the parent company Reliance Industries (RIL) were also buzzing in trade, surging over 2.5% intraday on Wednesday.

RIL shares have witnessed a relatively lacklustre year so far in 2026, plunging 22% on a YTD basis. With the listing of its telecom business, Jio Platforms, investors remain hopeful for a revival in momentum in the parent company. Besides this, the Jio Platforms IPO is also buzzing due to the new records it has set.

Biggest-ever IPO

The Jio Platforms IPO is the biggest IPO in Indian history with an issue size of ₹30,213 crore. Previously, this record was held by Hyundai Motor India IPO, which raised ₹27,280 crore, followed by NSE India IPO at ₹22,561 crore, LIC of India at ₹21,008 crore, Paytm at ₹18,300 crore and Coal India at ₹15,199 crore. All of the previously listed mega IPOs saw muted response in the initial hours of opening. In contrast, the Jio Platforms IPO secured robust response from investors in the early hours. Besides this, it also became the first IPO to get extended subscription hours starting from 9:00 am to 7:00 pm in the evening, as compared to 10:00 am to 5:00 pm for others.

Biggest-ever fresh issue

One criticism most big IPOs have faced was that they provided an exit to their early investors and left less capital for the company to fund its growth or deleverage itself. However, the Jio Platforms IPO will also be the biggest IPO to be entirely a fresh issue with no offer for sale from existing shareholders. The company will raise ₹30,213 crore to utilise the proceeds for prepayment, in full or in part, of certain outstanding borrowings availed by its subsidiary, Reliance Jio Infocom Ltd, worth ₹27,500 crore, and the remaining for other general purposes.

Listing among the top five companies

Immediately after listing, Jio Platforms is set to place itself among the top five companies in India by market capitalisation. At the upper end of the price band, i.e. ₹1,119 per share, the company's post-listing market capitalisation will be around ₹10.3 lakh crore, placing it just below its parent company Reliance Industries, Bharti Airtel and HDFC Bank. Currently, Reliance Industries is the top company with a market capitalisation of ₹16.57 lakh crore, followed by Bharti Airtel at ₹11.79 lakh crore and HDFC Bank at ₹10.96 lakh crore.

Fastest mega IPO to get fully subscribed

Besides placing itself in the top four companies in India, Jio Platforms IPO is also shattering records in its own category. Jio Platforms IPO also became the fastest mega IPO to get fully subscribed. The overall IPO was fully subscribed within two hours of opening on Monday. No other mega IPO was fully subscribed on Day 1 of subscription, setting a new benchmark for an IPO of this size. Hyundai Motors India (₹27,280 crore) got fully subscribed on Day 3, LIC of India (₹21,008 crore) on Day 2, and the NSE IPO (₹22,561 crore) was fully subscribed on Day 2.

Biggest business house

Post-listing, Reliance Industries Group companies will surpass Tata Group companies by market capitalisation. Currently, the Tata Group is the most valued business house in India with a total market capitalisation of over ₹25.6 lakh crore. After the listing of Jio Platforms, Reliance Industries Group companies' total market capitalisation will cross ₹27 lakh crore, up from ₹17.9 lakh crore, making it the most valued business house in India. After Tata Group, Adani Group companies rank at the third spot, worth ₹17.2 lakh crore, followed by Bajaj Group at ₹13.8 lakh crore, Aditya Birla Group at ₹10.1 lakh crore, and O.P. Jindal Group at ₹6.8 lakh crore.

Record anchor book subscription

The Jio Platforms IPO secured record-breaking demand from anchor investors before the issue opened for public subscription on Wednesday. The anchor book worth ₹8,109 crore received bids worth ₹2.5 lakh crore, oversubscribed 30x. Prominent names among the anchor investors include LIC, BlackRock, Fidelity, J.P. Morgan, Capital Group, Government of Singapore, HDFC Mutual Fund, and ICICI Prudential Mutual Fund.

Largest shareholder quota

Besides the largest issue size and record-breaking subscription speed, Jio Platforms IPO has also set another milestone in providing value for its parent company's shareholders. Jio Platforms has reserved a ₹2,500 crore quota for shareholders of its parent company, Reliance Industries. Previously, SBI Cards and Payments IPO held this record with ₹985 crore reserved for shareholders of its parent company, State Bank of India.