Datanomics: Jio breaks decade-long trend of record IPOs listing at discount

io Platforms' 21% listing gain bucks a trend of weak debuts by India's biggest IPOs as the issue sets a new fundraising record

Shares of Jio Platforms listed on the NSE at ₹1,358 apiece compared to the issue price of ₹1,119, a gain of over 21 per cent for investors. Jio’s performance was an exception to a decade-long trend of record-sized initial public offerings (IPOs) listing at a loss for investors. A record-sized IPO is one that is the biggest in terms of value compared to previous ones. This underper­formance got amplified with the launch of One 97 Communications’ record IPO in November 2021, the first record IPO in the period under consideration. The issue sizes of three successive record-setting IPOs increased by 10 per cent, 35 per cent, and 8 per cent over their respective previous records, while listing performance remained under pressure till Jio broke the trend. 

In the seven months of financial year 2026-27 (FY27) so far, there have been 91 IPOs, the second highest tally after 112 in the whole of FY26. Aggregate fundraising of ₹1.38 trillion from April 1 to October 28 was lower than that of the whole of FY25 and FY26. Jio Platforms’ IPO has set a new  record with an issue size of ₹30,188 crore, which is approximately 

8 per cent higher than Hyundai Motor India’s previous record of ₹27,859 crore set in October 2024. The issue was fully subscribed within 100 minutes of opening and closed with an overall subscription of 22.19 times, indicating strong demand in the primary market.