NSE data updated at 11:18:19 a.m. IST on October 21 showed institutional demand above twice the shares reserved for QIBs, while retail subscription stood at 0.21x.
October 21, 2026
Jio Platforms’ ₹30,213-crore initial public offering (IPO) was subscribed to 0.71 times overall in the NSE subscription data updated at 11:18:19 a.m. IST on Wednesday, October 21. The qualified institutional buyer (QIB) portion was subscribed 2.03 times, while retail investors had bid for 0.21 times their reserved shares.
The category-wise figures show a clear difference in participation. Institutional demand had exceeded the shares reserved for QIBs, while non-institutional investors, retail applicants, employees and eligible shareholders were yet to fully subscribe to their respective portions at this snapshot.
The IPO remains open until October 23. Subscription levels can change during the bidding period, and early category-wise demand does not guarantee listing gains.
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Jio Platforms IPO subscription status on October 21
According to the NSE India IPO subscription table, bids had been received for 14,07,53,088 shares against 19,75,25,934 shares offered or reserved across the displayed investor categories.
| Investor category | Shares offered/reserved | Shares bid for | Subscription |
|---|---|---|---|
| Qualified institutional buyers (QIBs) | 4,90,07,827 | 9,96,18,072 | 2.03x |
| Non-institutional investors (NIIs) | 3,64,44,569 | 1,07,10,960 | 0.29x |
| Retail individual investors | 8,50,37,327 | 1,81,48,668 | 0.21x |
| Employees | 46,94,835 | 23,66,700 | 0.50x |
| Shareholders | 2,23,41,376 | 99,08,688 | 0.44x |
| Total | 19,75,25,934 | 14,07,53,088 | 0.71x |
Source: NSE India IPO subscription table, updated as on October 21, 2026, at 11:18:19 a.m. IST. Subscription figures can change during the bidding period.
QIB demand leads as retail participation trails
The QIB category had received bids for approximately 9.96 crore shares against about 4.90 crore shares reserved for the category, resulting in a subscription of 2.03 times.
Retail investors had bid for approximately 1.81 crore shares against 8.50 crore shares reserved, taking their subscription to 0.21 times. The NII portion stood at 0.29 times, while the employee and shareholder categories were subscribed 0.50 times and 0.44 times, respectively.
The key development is the gap between institutional demand and participation from other investor categories. However, this is an intraday snapshot rather than the final subscription position. Retail and NII participation may change before the issue closes on October 23.
The subscription multiple also does not establish whether the stock will list at a premium or discount. That outcome will depend on factors beyond the number of bids received during the IPO.
Jio Platforms IPO price band, lot size and closing date
Jio Platforms is seeking to raise ₹30,213 crore through the IPO, which opened on October 21 and closes on October 23, 2026.
The price band is ₹1,065–₹1,119 per share, and one retail lot consists of 12 shares. At the upper end of the price band, the minimum application value is ₹13,428, excluding applicable charges.
Investors should check the latest subscription figures and issue terms before submitting an application. The NSE IPO subscription table provides category-wise bidding data.
For a deeper assessment of the company’s financial performance, valuation and return on capital, read NiftyTrader’s Jio Platforms IPO RHP analysis. Investors can also refer to the Jio Platforms IPO details page on NiftyTrader.
What investors should watch next
The next important development is whether retail and non-institutional participation improves during the remaining bidding period. The QIB portion has exceeded its reserved allocation, but overall subscription remains below one time in the 11:18:19 a.m. snapshot.
Investors should distinguish intraday subscription data from the final subscription status and eventual listing performance. Grey-market premium quotes, where available, are unofficial, fluctuate with market sentiment and do not guarantee listing gains.
The key takeaway: Jio Platforms’ early IPO demand was led by institutional investors, with QIB subscription at 2.03 times, while overall subscription remained at 0.71 times in the NSE snapshot updated at 11:18:19 a.m. IST. The final response will become clearer as bidding continues through October 23.
Read Next: Stocks to Watch Oct 21: Jio IPO Opens; Bajaj Finance, Hindustan Zinc in Focus
Disclaimer: This article is for informational and educational purposes only and is not investment advice or a recommendation to subscribe to the IPO. IPO investments involve market and valuation risks. Investors should review the offer documents and assess their financial circumstances before making an investment decision.
