Jio Platforms, the telecom and digital services business of Reliance Industries, is preparing to launch its initial public offering on October 21, 2026. The company has set a price band of ₹1,065 to ₹1,119 per share and aims to raise up to ₹30,213 crore through the public issue. The offering is expected to become India's largest initial public offering by issue size, attracting considerable attention from retail investors and market participants.
The IPO will remain open for subscription until October 23. Bidding by anchor investors is scheduled for October 19, while the allotment is expected to be finalised on October 26. The shares are tentatively scheduled to list on the Bombay Stock Exchange and the National Stock Exchange on October 28, subject to the final issue timetable.
Jio Platforms IPO Price Band and Issue Size
Jio Platforms has fixed the issue price between ₹1,065 and ₹1,119 per equity share. The IPO comprises a fresh issue of up to 27 crore shares, each with a face value of ₹10. At the upper end of the price band, the company could raise approximately ₹30,213 crore.
Because the issue consists of fresh shares rather than an offer for sale by existing shareholders, the proceeds are intended for the company. According to the draft prospectus, the proposed uses include repaying certain borrowings of its material subsidiary, Reliance Jio Infocomm, and meeting general corporate requirements. Investors should refer to the final offer document for the complete terms and allocation details.
If completed at the announced price band and size, the offering would surpass Hyundai Motor India's ₹27,858.75 crore IPO in 2024, making it India's largest public issue by the amount raised.
Latest Jio IPO GMP
The grey market premium, commonly known as GMP, is receiving attention ahead of the subscription opening. On October 15, different market reports quoted premiums ranging from around ₹200 to ₹223 per share. These figures differed across trackers and reporting times, so they should be treated as unofficial estimates rather than a single confirmed market price.
Using an illustrative GMP of ₹200 and the upper price band of ₹1,119, the implied grey market price would be ₹1,319 per share. At a premium of ₹223, the corresponding indicative price would be ₹1,342. These calculations are examples based on reported grey market estimates, not predictions of the actual listing price.
Grey market transactions are unofficial and do not guarantee listing gains. The premium can change quickly as market sentiment, subscription demand and broader stock market conditions evolve. Investors should not make investment decisions based solely on GMP figures.
Minimum Investment and IPO Dates
The minimum application lot has been fixed at 12 shares, with applications permitted in multiples of 12. At the upper price band of ₹1,119 per share, an application for one lot would require ₹13,428 before any applicable charges. The actual amount will depend on the price and application category.
The key dates reported for the offering are as follows:
- Anchor investor bidding: October 19, 2026
- IPO opening date: October 21, 2026
- IPO closing date: October 23, 2026
- Expected allotment finalisation: October 26, 2026
- Expected share credit and refund initiation: October 27, 2026
- Tentative listing date: October 28, 2026
Investors should confirm the final schedule through the official offer documents and exchange announcements before submitting applications.
Employee and Reliance Shareholder Reservations
The issue also includes reserved portions for eligible employees and qualifying Reliance Industries shareholders. Reports based on the issue details indicate a reservation of up to ₹500 crore for eligible employees and up to ₹2,500 crore for eligible Reliance Industries shareholders. Eligible employees are expected to receive a discount of ₹54 per share in the employee reservation portion, subject to the final offer terms.
The shareholder reservation is subject to eligibility criteria. Investors should check the offer document for the relevant record-date requirements, application conditions and allocation rules before applying under a reserved category.
Jio Platforms' Business and Financial Performance
Jio Platforms operates across telecommunications and digital services, with Reliance Jio Infocomm serving as its key telecom subsidiary. The company has built a large customer base through mobile connectivity, 5G services, fixed broadband and other digital offerings.
For the financial year ended March 2026, Jio Platforms reported revenue from operations of approximately ₹1,46,885 crore, up from ₹1,28,218 crore in the previous financial year. Its reported net profit rose to approximately ₹30,049 crore from ₹26,109 crore. These figures provide context for investors assessing the company's scale and financial performance, although historical results do not guarantee future growth.
The proposed IPO is also significant because it will allow public market investors to gain direct exposure to Jio Platforms. Until now, the business has operated within the wider Reliance Industries group, which has interests in several sectors.
What Investors Should Consider Before Applying
Investors should review the company's prospectus, financial statements, risk factors, valuation and intended use of proceeds before deciding whether to apply. Factors such as competition in the telecom sector, capital expenditure requirements, regulation, technology changes and the company's dependence on its wider business ecosystem may affect future performance.
The IPO's large size and reported grey market premium may attract substantial interest, but neither factor guarantees that the shares will list above the issue price. Market conditions can change between the subscription period and the listing date.
Jio Platforms' public offering is an important development for India's capital markets. The final investor response will become clearer during the subscription period, while the actual listing price will be determined by market conditions after listing.
