The Jio Platforms IPO, which is the largest public issue in Indian corporate history, has set a new world record. It has created history by becoming the first IPO in the world to receive more than one crore applications. By the time the bidding deadline closed on Friday (October 23), there was an unprecedented response from investors from all sectors.

Known as the largest IPO in the country's history, this Rs. 30,213 crore issue was flooded by investors. The issue, which started on October 21, was fully subscribed in just 100 minutes. The number of applications crossed the one crore mark by noon on the closing day. Jio has easily surpassed the previous record of about 97 lakh applications in the name of Wari Energies. The total number of applications by Friday evening had crossed one crore. Demand was recorded at more than six times the available shares.

Before the start of this public issue, the company had received Rs. 30,213 crore from anchor investors. 8,110 crores. This segment received a demand of more than 30 times. That is, bids worth about Rs. 2.5 lakh crore were submitted. Internationally renowned institutions like Abu Dhabi Investment Authority, BlackRock, Fidelity have invested in it.

In the public issue, the quota of Qualified Institutional Buyers (QIB) was subscribed 14 to 20 times, the quota of non-institutional investors was subscribed 9 to 11 times, and the retail segment was subscribed about 2 times. The quotas allocated for Reliance Industries employees and shareholders were also fully filled.

Jio Platforms, a part of the Reliance Industries Group, continues to be led by Akash Ambani. Already the largest telecom operator in the country with over 500 million mobile users, this company has partners like Google and Meta. The company will further expand its operations with the funds raised through the IPO. Preparations are underway to complete the share allotment process and list on BSE and NSE on October 28.