MUMBAI. Jio Platforms, a telecom company under Indian industrialist Mukesh Ambani’s Reliance Industries, has seen enthusiastic participation from investors in the initial public offering (IPO). On the first day of the IPO opening, more than three times the number of applications has been received and the demand from institutional investors has increased significantly.

In the IPO that opened on Wednesday, the number of applications for the shares allotted to the qualified institutional buyer (QIB) group more than doubled in the first 10 minutes. A total of 4,90,07,827 shares were allotted for this group. In less than half an hour, the demand for the allotted shares had doubled.

Overall, the IPO has been subscribed more than three times on the first day. The QIB group has received nearly nine times the number of applications and 68 per cent of the applications have been received in the shares allocated for retail investors.

Target to raise more than 30,000 crore rupees

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Jio Platforms is targeting to raise Rs 30,213 crore through the IPO. The company has set a price range of Rs 1,065 to Rs 1,119 per share. The proceeds from the IPO, which will remain open till Friday, are planned to be used for debt repayment and expansion of Reliance Jio Infocomm.

This IPO is the biggest IPO in India so far. Earlier this year, the IPO of the National Stock Exchange (NSE) was worth Rs 22,560 crore.

Jio’s IPO has caught the attention of investors at a time when the Indian stock market is volatile. The Nifty-50 index has fallen by more than 12 per cent this year. The Nifty-50 includes shares of 50 major companies in India.

Attraction to IPO even in a sluggish market

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Jio’s issuance has created new interest in the market in the backdrop of large IPOs not being listed as expected. Eight of the 13 IPOs above Rs 10,000 crore did not perform as expected by most investors during the listing, according to the data.

According to Arun Kejriwal of Kejriwal Research and Investment Services, the IPO market is still active despite the sluggishness of the stock market. He said that both institutional and small investors have increased interest in technology companies with attractive valuations and potential for future business expansion.

According to him, some IPOs can be attractive to investors because of their low valuation and low price-to-earnings ratio (P/E ratio) compared to companies already listed in the market.

The P/E ratio shows how much an investor is willing to pay for a company’s earnings of one rupee.

Mixed experience in listing large IPOs

Large IPOs in India in recent years have given investors a mixed experience. National Stock Exchange (TAG_OPEN_span_36}}: The NSE shares listed in September this year started trading at a premium of 0.84 per cent over the issue price. Hyundai Motors India: The Rs 27,858-crore IPO on October 2024 was listed at Rs 1,934 against the issue price of Rs 1,960 per share.TAG_OPEN_span_35 Life Insurance Corporation of India (LIC): In May 2022, shares of listed LIC were traded at Rs 867.20 against the issue price of Rs 949.TAG_OPEN_span_34

This was 8.62 percent below the issue price. TAG_OPEN_span_32 Paytm: The Rs 18,300 crore IPO of its parent company, One97 Communications, was launched in November 2021. The stock was listed at Rs 1,950 against the issue price of Rs 2,150, down 9.3 per cent. LG Electronics India: Its IPO, which came out in October 2025, also received huge support from investors. The shares were listed at a premium of 50 per cent over the issue price.

The initial demand seen in Jio’s IPO indicates that the attractiveness of investors towards big technology companies in the Indian capital market is strong. However, high demand in the IPO is not the only guarantee that the price will increase even after the listing of shares. The company’s valuation, financial position, and future business expansion will determine its long-term performance.