Jio Platforms IPO Opens October 21 at ₹1,065 to ₹1,119 a Share

Jio Platforms, the Reliance Industries subsidiary, will open its initial public offering on 21 October 2026 at a price band of ₹1,065 to ₹1,119 per equity share. At the upper end, the fresh issue of up to 27 crore shares is worth up to ₹30,213 crore, which would make it the largest IPO in India by issue size.

Jio Platforms filed its Red Herring Prospectus (RHP) with the Registrar of Companies, Gujarat, at Ahmedabad on 14 October 2026. Reliance Industries confirmed the issue dates and price band in an exchange filing.

Jio Platforms IPO Price Band, Lot Size and Issue Structure

The Jio Platforms IPO is a book-built issue made up entirely of a fresh issue of up to 27 crore equity shares with a face value of ₹10 each. There is no offer for sale component, so the money raised goes to the company. According to the filing, the proceeds will be used to clear debt of the material subsidiary Reliance Jio Infocomm and for general corporate purposes. Reliance Industries holds about 66.4% of Jio Platforms.

Retail investors can apply for a minimum of 12 shares and in multiples of 12 thereafter. At the cap price of ₹1,119, one lot of 12 shares needs a bid of ₹13,428. The shares are proposed to list on both NSE and BSE.

Jio Platforms IPO key terms

How the Jio Platforms IPO Compares With Earlier Mega Issues

At ₹30,213 crore, the issue would surpass the ₹27,859 crore IPO of Hyundai Motor India in 2024, which was the largest in the country so far. The comparison holds only if the offer is completed as planned and priced at the top of the band.

At the upper end of the band, Jio Platforms would have an implied equity valuation of about ₹10.3 lakh crore. That figure is the estimated market value of the whole company at the issue price, based on a post-issue shareholding of 9,20,90,30,830 shares. It is not the amount the company is raising, which is the ₹30,213 crore fresh issue.

The issue has 19 book-running lead managers, including Morgan Stanley, Kotak Mahindra Capital, BofA Securities, JP Morgan and Goldman Sachs. KFin Technologies is the registrar to the issue.

Reserved Portions for Employees and Reliance Shareholders

Besides the general public categories, the offer carries two reserved portions. Each has its own eligibility rule, which matters for anyone planning to bid under a quota.

• Up to ₹500 crore is reserved for eligible employees of Jio Platforms, with a discount of ₹54 per share for employees bidding under this quota.
• Up to ₹2,500 crore is reserved for eligible shareholders of Reliance Industries, meaning individuals and HUFs (directly or through the karta) who are public equity shareholders of the company.
• The shareholder quota is tied to holdings as on 14 October 2026, the date the RHP was filed, and not to the date of bidding.
• Persons who are not eligible to invest in the IPO under applicable laws and regulations are excluded from the shareholder quota.

Because the cut-off for the shareholder quota is a past date, investors cannot change their eligibility by buying Reliance Industries shares now. Holdings on the record date are what count.

Jio Platforms IPO Dates From Anchor Round to Listing

The timetable is compact. Anchor investors bid on 19 October, two days before the issue opens to the public. The three-day subscription window then runs from 21 October to 23 October 2026.

Jio Platforms IPO timetable

The basis of allotment is the step in which the registrar finalises how many shares each successful applicant receives. Refunds and the credit of shares follow a day later, and trading is expected to begin on 28 October.

How to Apply for the Jio Platforms IPO Online

A bid for IPO shares needs a PAN-linked demat account, because allotted shares are credited there in electronic form. Investors who do not yet have one can open a demat account with a SEBI-registered depository participant before the issue closes on 23 October, although the time taken for account activation varies by intermediary.

Bids are placed through a bank’s net banking facility or an online trading platform, using either a UPI mandate or ASBA (Application Supported by Blocked Amount). Under both routes the bid amount stays in the investor’s bank account and is blocked only until allotment is finalised. Applicants who want to invest in IPO online should check that the UPI ID entered in the bid matches the bank account holding the funds.

Market Reaction as Jio Platforms IPO Details Emerged

Reliance Industries shares rose about 3% on 15 October as the IPO details became public, and the stock featured among the day’s top gainers on the exchanges. The wider market also rallied that day. The Sensex rose 1,533.72 points, or 2.11%, to settle at 74,315.61, while the Nifty 50 gained 374.65 points, or 1.66%, to end at 22,997.35. Both recorded their biggest single-day gains in four months.

On 16 October, the Sensex opened at 74,341.08 and the Nifty at 23,065.10, according to opening-session reports.

What to Track Before the Issue Opens

Anchor allocations on 19 October will give the first view of institutional demand. During the three public days, the exchanges publish subscription figures by investor category, and the final allotment will follow on 26 October.

The RHP is the primary document for risk factors, objects of the issue and financial disclosures. Prices, dates and quotas can change only through formal addenda, so the exchanges and the RHP remain the reference points for every figure in this report.

Related Stock Market Insights

• What is an IPO?
• Types of IPO with Example
• How to Apply for IPO in India?
• What is Grey Market in IPO and How It Works?
• Things You Should Know Before Investing in IPO