Jio Platforms lists today after a 22.19x subscribed IPO

Jio Platforms Limited (NSE: JPL) is scheduled to debut on the Indian stock exchanges on 28 October 2026 at an issue price of ₹1,119 per share. Its approximately ₹30,200 crore IPO was subscribed 22.19 times. What happened? The IPO attracted particularly strong institutional demand. The qualified institutional buyer category, excluding anchor investors, was subscribed 70.55 times, while retail investors subscribed 2.72 times. At the upper end of the issue price, Jio Platforms is valued at approximately ₹10.3 lakh crore. The company combines a large telecom subscriber base with digital services, enterprise connectivity and emerging technology opportunities. My analysis The listing is significant because it gives public-market investors direct exposure to one of India's largest digital platforms. However, the real question is not whether demand for the IPO was strong. It is whether the listed valuation leaves sufficient room for future returns.