Reliance Industries-backed digital services company Jio Platforms' initial public offering (IPO) has created a history. The public issue attracted strong response from investors and shattered all previous global records. Including public and anchor bids, this IPO received a record-breaking total of Rs 7.4 lakh crore. The total bid amount for this single IPO is larger than the annual budgets of 26 Indian states.
IPO outpace budget of 26 states
The total bid value of Jio Platforms' IPO was Rs 7.4 lakh crore, far more than the total budget expenditure of many major states for the financial year 2026-27.
- Rajasthan: Budget expenditure Rs 6.11 lakh crore
- Tamil Nadu: Budget expenditure Rs 5.25 lakh crore
- Karnataka: Budget expenditure Rs 4.48 lakh crore
- West Bengal: Budget expenditure Rs 4.39 lakh crore
- Madhya Pradesh: Budget expenditure Rs 4.23 lakh crore
This comparison clearly shows that the investment amount received in Jio's IPO is much more than the total budget expenditure of the country's largest states.
1.39 crore applications
The Jio IPO not only brought in a flood of money but also set a new global record for applications. It became the first public offer in the world to cross one crore applications. A total of 1.39 crore applications were received for this IPO. This number is almost 1.5 times more than the total population of London, the capital of Britain.
At the same time, out of the total 193 member countries of the United Nations (UN), the total population of 118 countries is less than 1.39 crore. If all these 1.39 crore applicants were considered a separate country, they would rank as the world's 75th most populous country by number of applicants for the Jio IPO.
Indian stock market reaches a historic new record
The Jio Platforms IPO has proven that the Indian stock market and the potential of retail investors now stand at the forefront globally. Massive bidding and millions of applications have made history on Dalal Street.
The anchor book reportedly attracted bids exceeding Rs 2.5 lakh crore, more than 30 times the amount allocated. Investors included global asset managers and sovereign wealth funds such as BlackRock, Fidelity Investments, GIC and the Abu Dhabi Investment Authority.
Fastest among mega public issues
On Wednesday, the opening day of the IPO, Jio Platforms Ltd's IPO was fully subscribed within 100 minutes, making it the fastest-subscribed mega public issue in India.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
