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Moody’s spares France a downgrade as 10-year yield tops 5% Oil slips from six-month highs as Qatar mediates in Tehran China’s Fifth Plenum opens as AI exports mask weak home demand Lula wins, Brazil markets brace for shock sell-off; Tokyo Brazil ETF plunges ~15% Brazil votes today: Lula faces Flávio Bolsonaro in runoff Fed, ECB, BoJ Rate Decisions This Week: Holds Expected, December in Focus Oil is pricing in the next round of war. Brent tops $116 as Iran tensions drag Wall Street lower Global money is bidding for India's biggest growth stories while leaving India’s index Beyond banks: AI layoffs spread to tobacco, chemicals and payments

Moody’s spares France a downgrade as 10-year yield tops 5% Oil slips from six-month highs as Qatar mediates in Tehran China’s Fifth Plenum opens as AI exports mask weak home demand Lula wins, Brazil markets brace for shock sell-off; Tokyo Brazil ETF plunges ~15% Brazil votes today: Lula faces Flávio Bolsonaro in runoff Fed, ECB, BoJ Rate Decisions This Week: Holds Expected, December in Focus Oil is pricing in the next round of war. Brent tops $116 as Iran tensions drag Wall Street lower Global money is bidding for India's biggest growth stories while leaving India’s index Beyond banks: AI layoffs spread to tobacco, chemicals and payments

Markets

Jio IPO sets a global record with 10 million+ applications on final day

India’s largest-ever IPO is closing with record retail participation. It is a strong vote of confidence in Indian equities despite oil-driven market weakness.

News | 23 October 2026

Jio IPO sets a global record with 10 million+ applications on final day

India’s biggest IPO now holds a global record too. Jio Platforms became the first public offer in the world to cross 1 crore (10 million) applications, beating the previous record of about 97 lakh set by Waaree Energies. Demand built steadily, and by 3 PM on the final day the ₹30,213 crore issue was 12.55 times subscribed. Bidding closes this evening i.e. EOD Friday 23rd October.

Institutions led the charge: QIBs bid 32.77 times their quota and non-institutional investors 13.38 times, while retail came in at 2.51 times. At the top of the price band, Jio is valued at roughly $108 billion. With anchors having already put in ₹8,110 crore, the next test comes on 28 October, when Jio lists on the BSE and NSE.