Jio Platforms Ltd. has made history after its Initial Public Offering (IPO) received an overwhelming response from investors, becoming the fastest-ever IPO in India to achieve full subscription. The public issue, valued at Rs 30,213 crore, was fully subscribed within just 100 minutes of opening on October 21. With a price band of Rs 1,065 to Rs 1,119 per share, the offering witnessed exceptionally strong participation from institutional investors, with the Qualified Institutional Buyers (QIB) portion crossing full subscription in the first 10 minutes and attracting multiple times the available allocation shortly afterward.

The IPO, which will remain open for subscription until October 23, is expected to become India’s largest public offering, surpassing Hyundai Motor India’s Rs 27,870 crore IPO. At the upper end of the price band, Jio Platforms is valued at nearly USD 108 billion. The issue consists entirely of a fresh offering of 27 crore shares, meaning existing shareholders are not selling their stakes. Ahead of the public launch, the company successfully raised around Rs 8,110 crore from 212 anchor investors, with demand reportedly exceeding 30 times the shares available for allocation.

Jio Platforms Managing Director Akash Ambani said the company is positioning itself as a technology-driven enterprise focused on artificial intelligence, cloud computing, and digital services rather than just telecommunications. He highlighted Jio’s in-house 5G technology, cloud-native network, and software platform serving more than 533 million customers, stating that connectivity is only the foundation for future growth. Investors are now closely watching whether the company can leverage its massive subscriber base to generate higher revenues from AI, enterprise solutions, and digital services, making this IPO one of the most significant milestones in India’s capital market history.