Jio Platforms IPO achieves full subscription in under 35 minutes

Jio Platforms' initial public offering achieved full subscription in less than 35 minutes after opening on Wednesday, signalling strong investor appetite for the Reliance Industries subsidiary. The issue received bids worth approximately Rs 22,354 crore by 10:34 am, according to data from the National Stock Exchange.

Qualified institutional buyers, who typically lead demand in major capital raises, showed particularly strong interest in the offering, with bids reaching 3.25 times their reserved allocation. This early momentum from institutional investors underscores confidence in Jio Platforms' business model and growth prospects in India's digital services sector.

The rapid subscription reflects broader investor enthusiasm for digital infrastructure and telecommunications assets in India, where telecom and internet service providers have seen increasing valuations amid growing data consumption and digital adoption. The quick oversubscription suggests the offering may be heavily overbooked as the bidding process continues through its scheduled period.

Jio Platforms operates as a digital services platform under the Reliance conglomerate, encompassing broadband, mobile, and streaming services that have gained significant market traction in recent years.