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The initial public offering (IPO) of Jio Platforms, which attracted strong investor enthusiasm throughout its bidding period, has set multiple new benchmarks in the country’s primary market, setting the stage for its stock market debut.
The Street is now betting that Mukesh Ambani’s first IPO in 20 years could also make history on listing day by surpassing the debut records of other big-ticket IPOs.
Jio Platforms has become the biggest-ever IPO in the Indian stock market, with an issue size of ₹30,188 crore, surpassing Hyundai Motor India’s ₹27,858-crore offering, which comprised entirely an offer for sale (OFS).
The issue, which closed on Friday, October 23, attracted bids worth ₹4.72 lakh crore, making it a major test of investor appetite for large listings at a time when AI-linked stocks are facing increased scrutiny.
The demand also surpassed the comparable interest in LG Electronics India’s 2025 IPO. Including bids worth around ₹2.5 lakh crore for the anchor book, total demand for Jio Platforms’ IPO reached approximately ₹7.4 lakh crore.
The last time an IPO attracted comparable investor interest was Reliance Power’s 2008 issue, part of the group led by Anil Ambani.
Jio Platforms’ IPO received more than 13.8 million applications, the highest ever in India, a Reliance official told Reuters. In comparison, Chinese memory-chip maker CXMT’s $8.6-billion IPO, Asia’s biggest listing this year, attracted around 9.4 million accounts.
The IPO values Jio Platforms at up to ₹10.3 lakh crore, potentially making it one of India’s largest companies by market capitalisation when its shares begin trading on Wednesday.
Jio Platforms is set to become the 13th publicly listed company under the group. Its listing at the upper end of the price band could take the combined market capitalisation of the Reliance Group to approximately ₹28.35 lakh crore, potentially surpassing the Tata Group’s combined market capitalisation.
The issue comprises an entirely fresh issuance of up to 27 crore equity shares, with no offer-for-sale (OFS) component.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.
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