Every large IPO divides shares into categories. For the Jio IPO, the net offer was split as follows.

The split

• QIB: 50 per cent of the net offer, about 12.15 crore shares.
• NII: 15 per cent, about 3.64 crore shares.
• Retail: 35 per cent, about 8.50 crore shares.

The maximum number of retail allottees was about 70.86 lakh. Separate portions were reserved for anchors, Reliance shareholders and employees.

Who is who

1. QIBs: institutions such as mutual funds, insurers and banks.
2. NIIs: investors bidding above the retail limit, split into small and big HNIs. The usual cut-offs are Rs 2 lakh to Rs 10 lakh and above Rs 10 lakh .
3. Retail: individuals bidding up to Rs 2 lakh .

How allotment differs

• QIB: discretionary within rules.
• NII: proportionate.
• Retail: lottery if oversubscribed.

Final subscription

Reported final multiples were roughly 65 to 71 times for QIBs, about 14 times for NIIs and about 2.7 times for retail.

What it means for you

The category you bid in shapes your odds. With retail at about 2.7 times, not every applicant would be allotted.

Main post: Jio IPO 2026.

This blog is for information only and is not investment advice. Please consult a SEBI registered advisor before investing.