Jio IPO Day 1: QIB Bids Hit ₹49,203 Crore, Subscription at 2.96x
The Reliance Jio IPO (Jio Platforms Limited) was subscribed 2.96 times by the end of Day 1. Bids worth about Rs 65,528 crore were received against Rs 22,103 crore of shares on offer. Institutional investors led the demand: QIBs at 8.97x, NIIs at 1.51x, and retail at 0.66x.
For retail investors, the main point is that the retail portion is still undersubscribed. If it remains below 1x until the issue closes on 23 October, every valid retail bid at cut-off should get full allotment, without a lottery.
Allotment is expected on October 26, 2026, and listing on the NSE and BSE is scheduled for October 28, 2026.
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📋 Table of Contents
Reliance Jio IPO Details
| Metric | Value |
|---|---|
| Price Band (Upper) | Rs 1,119 |
| Lot Size | 12 shares (Rs 13,428) |
| Overall Subscription (Day 1) | 2.96x |
| QIB / NII / Retail | 8.97x / 1.51x / 0.66x |
| GMP Today | Rs 251 (+22.43%) |
| Estimated Listing Price | Rs 1,370 |
| Issue Size | Rs 30,213 crore |
| Issue Closes | 23 October 2026 |
Reliance Jio IPO Subscription Status Today (Day 1)
The offer size below does not include the anchor portion. Subscription is calculated using the upper price band of Rs 1,119.
| Category | Shares Offered (Rs Cr) | Bids Received (Rs Cr) | Subscription |
|---|---|---|---|
| QIB | 5,483.98 | 49,203.25 | 8.97x |
| NII (Total) | 4,078.15 | 6,145.55 | 1.51x |
| bNII / BHNI (> Rs 10L) | 2,718.76 | 4,470.98 | 1.64x |
| sNII / SHNI (Rs 2L - 10L) | 1,359.38 | 1,674.56 | 1.23x |
| Retail | 9,515.68 | 6,236.02 | 0.66x |
| Employee | 525.35 | 662.77 | 1.26x |
| Shareholder (RIL) | 2,500.00 | 3,280.74 | 1.31x |
| Total | 22,103.15 | 65,528.33 | 2.96x |
Reliance Jio IPO Day-wise Subscription
| Day | QIB | NII | Retail | Overall |
|---|---|---|---|---|
| Day 1 (21 Oct 2026) | 8.97x | 1.51x | 0.66x | 2.96x |
| Day 2 (22 Oct 2026) | Updating | Updating | Updating | Updating |
| Day 3 (23 Oct 2026) | Updating | Updating | Updating | Updating |
Day 1 Subscription Analysis: 4 Key Takeaways
Of the Rs 49,203 crore accumulated in QIB bids on Day 1:
- Domestic financial institutions (banks, insurers): Rs 28,000 crore (about 57%).
- FIIs: Rs 16,769 crore (about 34%).
- Mutual funds: Rs 3,465 crore (about 7%).
FII participation is strong, but domestic institutions have contributed most of the early demand. It is unusual for QIBs to cross 8x on the first day of such a large IPO.
Retail investors submitted 20.96 lakh applications worth Rs 6,236 crore. About 91.5% were placed at the cut-off price, which suggests investors are trying to secure allotment rather than bid at a lower price. For a Rs 9,500 crore retail portion, reaching 0.66x on Day 1 is a reasonable start. Retail bidding in very large IPOs often increases on the final day.
The RIL shareholder quota was subscribed 1.31x (4.90 lakh applications), while the employee quota reached 1.26x. Eligible RIL shareholders can often apply in both the shareholder and retail categories, giving them two possible routes for allotment.
The NII portion is subscribed 1.51x by value, but only 0.39x by number of applications. This means fewer HNIs are placing larger bids. Based on these figures, applicants in the SHNI or BHNI categories may have a strong chance of receiving the minimum lot allotment.
Reliance Jio IPO Allotment Chances After Day 1
Allotment chances mainly depend on the number of applications in each category, not only on how many times the shares are subscribed.
| Category | Subscription (Applications) | Allotment Chances (as of Day 1) |
|---|---|---|
| Retail | 0.30x | Full allotment likely (category is undersubscribed) |
| SHNI (Rs 2L - 10L) | 0.92x | Very high, at least minimum SHNI lot likely |
| BHNI (above Rs 10L) | 0.13x | Very high, at least minimum NII lot likely |
What this means for you:
- Retail: While retail stays below 1x by shares, there is no lottery. Every valid bid at cut-off gets all the lots applied for. You can legally bid up to 14 lots (168 shares, Rs 1,87,992).
- SHNI: Applications (62,399) are below the number of available minimum-size slots (67,490). Every applicant is extremely likely to receive at least the minimum NII allocation of 15 lots (Rs 2,01,420). Shares beyond that threshold allocate proportionately.
- BHNI: With only 17,422 applications against 1,34,980 available slots, each applicant is highly likely to get at least 15 lots. The rest is distributed proportionately at 1.64x.
These estimates may change significantly by Friday. If retail subscription crosses 1x, allotment will move to a lottery system in which each selected applicant receives one lot.
GMP & Estimated Listing Price After Day 1
The Reliance Jio IPO GMP is currently Rs 251, suggesting an estimated listing price of Rs 1,370. This indicates a possible listing gain of about 22.4%, or around Rs 3,012 per lot.
| Date | GMP | Est. Listing Price |
|---|---|---|
| 21 Oct 2026 (latest) | Rs 251 | Rs 1,370 |
| 4 Oct 2026 | Rs 148 | Rs 1,267 |
The premium has risen about 70% since early October. Strong QIB demand on Day 1 is also supporting this positive sentiment. However, GMP is unofficial and unregulated, and it can change sharply. For hourly updates, track the IPOwiz Live IPO GMP Tracker.
What to Watch on Day 2 and Day 3
- Whether retail crosses 1x: This figure helps determine whether valid bids may receive full allotment or whether a lottery may be needed.
- More FII participation: A higher FII share would suggest wider global interest, rather than demand coming mainly from domestic institutions.
- HNI application count: If more HNIs apply near the deadline, SHNI and BHNI minimum allotment chances may fall from current levels.
- GMP stability near Rs 250: A stable premium near the closing date may suggest that demand remains strong and that investors expect this to continue after listing.
Subscription by Applications
| Category | Max Allottees | Applications Received | Subscription |
|---|---|---|---|
| SHNI | 67,490 | 62,399 | 0.92x |
| BHNI | 1,34,980 | 17,422 | 0.13x |
| NII (Total) | 2,02,470 | 79,821 | 0.39x |
| Retail | 70,86,444 | 20,95,692 | 0.30x |
| Employee | 3,91,236 | 74,458 | 0.19x |
| Shareholder | 18,61,781 | 4,90,143 | 0.26x |
| QIB | - | 235 | - |
Note: QIB allotment is based on discretionary and proportionate allocation, so simple application-based probability estimates do not apply to this category.
Reliance Jio IPO Key Dates
| Event | Date |
|---|---|
| IPO Opens | 21 October 2026 |
| IPO Closes | 23 October 2026 |
| Allotment Date | 26 October 2026 |
| Refund Initiation | 27 October 2026 |
| Share Credit to Demat | 27 October 2026 |
| Listing Date (NSE, BSE) | 28 October 2026 |
About Jio Platforms Limited
Jio Platforms is Reliance Industries’ holding company for digital services. It mainly operates through its key subsidiary, Reliance Jio Infocomm Limited (RJIL). The company runs 4G and 5G networks and offers cloud, AI, and consumer apps, including JioTV and JioSaavn.
It serves consumers as well as large business and government customers. It reported over 524 million active customers as of March 31, 2026. When tracking an IPO worth more than Rs 30,000 crore, it is important to understand how the QIB, NII, and retail categories are performing.
Reliance Jio IPO Subscription FAQs
What is the Reliance Jio IPO subscription status on Day 1?
The Reliance Jio IPO was subscribed 2.96x on Day 1. QIBs led at 8.97x, followed by NIIs at 1.51x and retail at 0.66x.
Is the Reliance Jio IPO retail portion fully subscribed?
Not yet. Retail subscription was 0.66x by shares on Day 1. If it remains below 1x at the close, all valid retail bids at cut-off are likely to receive full allotment.
What are the Reliance Jio IPO retail allotment chances?
Allotment chances currently look strong because the retail category is undersubscribed. If retail subscription crosses 1x by October 23, allotment will move to an automated lottery, with one lot for each winning PAN.
What is the Reliance Jio IPO GMP today?
Rs 251, suggesting an estimated listing price of Rs 1,370, about 22.4% above the upper issue price. Remember that GMP is unofficial and changes frequently.
How much can a retail investor apply for in the Reliance Jio IPO?
Retail investors can apply for at least 1 lot (12 shares, Rs 13,428) and up to 14 lots (168 shares, Rs 1,87,992), based on the upper price band.
Can RIL shareholders apply in both the shareholder and retail quota?
Yes. Eligible shareholders who held shares on the record date can generally apply in both categories to improve their chances of allotment.
When is the Reliance Jio IPO allotment date?
October 26, 2026. Shares credit fully on October 27, unlocking listing transactions securely on October 28, 2026.
Disclaimer: Subscription data is based on NSE and BSE bidding feeds updated on October 21, 2026. GMP figures are unofficial indicators of market sentiment and are not verified by the exchanges. Check the registrar’s website for official allotment details and dates.
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