Jio Platforms IPO Day 2: Subscribed 5.5 Times, Retail Quota Full at 1.53x; What It Means for Allotment

Retail investors filled their quota within about two hours on Thursday. By the end of day two, 22 October 2026, the Jio Platforms IPO had drawn bids for 5.51 times the shares on offer, up from 3.16 times on day one, according to IPO data trackers compiling BSE and NSE bid data as of 6:57 PM IST. The retail portion stood at 1.53 times. Bidding closes on Friday, 23 October.

Jio Platforms IPO day 2: subscription by category

Day-two figures are IPO Ji’s compilation at 6:57 PM IST. A second tracker, IPO Darbaar, showed 5.57 times overall (QIB 13.29, NII 5.97, retail 1.54) at the same time; the small gap comes from how each reads the exchange feeds. Final figures come from the exchanges after the issue closes. Earlier on Thursday, Reuters, citing exchange data, reported 3.47 times by about noon, with the retail book full in the first two hours.

The demand in rupees

Total bids rose by about ₹52,077 crore during Thursday, on our calculation from the trackers’ day-one and day-two totals. Retail bids now exceed the retail quota by about ₹5,027 crore. Add the ₹8,109.85 crore taken by anchor investors on 19 October, per BSE’s notice, and the issue size is about ₹30,213 crore.

What 1.53 times means for your allotment

Retail allotment in an oversubscribed IPO is by lottery, and each successful applicant gets at least one lot of 12 shares. What matters for your chances is not the rupee multiple but the number of applications compared with the number of minimum lots available.

Here the trackers’ application-wise data is useful. About 54.03 lakh retail applications had been received against about 70.86 lakh minimum lots set aside, a ratio of 0.76. If that ratio stays below 1 at the close, every valid retail application could get at least one lot, with extra shares shared out among larger bids. If it rises above 1, a lottery decides who gets the single lot. These application counts are estimates from tentative bid data, as the tracker itself notes, and the final basis of allotment will be published by the registrar.

• Do not split bids across family members’ PANs from one account; multiple bids under one PAN are rejected.
• Bid at cut-off if you want to be sure of allotment at the final price in the ₹1,065–1,119 band.
• Approve the UPI mandate before the Friday deadline set by your broker; an unapproved mandate means no bid.
• One lot costs ₹13,428 at the upper band. The retail ceiling of ₹2 lakh allows 14 lots (₹1,87,992), but a bigger bid does not raise your odds of getting the first lot.

Institutions are still in charge

QIBs account for about ₹72,065 crore of the ₹1,21,824 crore in bids. Within that, the trackers attribute about ₹24,944 crore to foreign investors, ₹38,503 crore to domestic institutions and ₹4,738 crore to mutual funds. These splits come from a single tracker and could not be matched with exchange data. Our day-one report has the starting figures and analyst views.

Heavy oversubscription says the shares are in demand at this price; it says nothing certain about the listing price. Grey-market premiums quoted online are unofficial and unregulated, and we do not use them.

What happens after Friday

Trackers list the tentative listing date as Wednesday, 28 October, on BSE and NSE. Allotment status can be checked on the registrar’s site and the exchanges once the basis of allotment is finalised; blocked money is released for unsuccessful bids. Our Jio IPO guide covers the steps, and the October IPO calendar lists other open issues.

The market backdrop is weak: the Sensex fell 0.62% on Thursday, its third straight loss, on high oil prices. That has not slowed demand for the Jio Platforms IPO so far.

Investors who hold Reliance shares should note that the shareholder quota is separate from the retail quota, so eligible holders can bid in both.

This report is for information only. It is not a recommendation to apply for or avoid the issue.

FAQs

How many times was the Jio Platforms IPO subscribed on day 2?

About 5.51 times overall by 6:57 PM IST on 22 October, per IPO data trackers, with retail at 1.53 times.

Is it too late to apply?

No. Bidding is open until Friday, 23 October, subject to your broker’s and bank’s cut-off times.

When is the listing?

Trackers show Wednesday, 28 October 2026, as the tentative listing date.

Takeaway: The Jio Platforms IPO is 5.51 times subscribed after two days, with retail at 1.53 times. Application numbers suggest good odds of one lot for retail bidders if trends hold, but the final count comes after Friday’s close.