Jio Platforms IPO: Opening Date, Price Band, GMP, Issue Size, Key Dates And All You Need To Know

Jio Platforms IPO: Jio Platforms Ltd, the digital services and telecom arm of Reliance Industries, is gearing up for what could become India’s largest-ever initial public offering (IPO), with the company setting a price band of Rs 1,065-1,119 per share for its much-anticipated stock market debut. The public issue could raise Rs 30,213 crore at the upper end of the price band, surpassing the record set by Hyundai Motor India in 2024.

The Jio Platforms IPO will open for subscription on Wednesday, October 21, and close on Friday, October 23. The bidding window for anchor investors is scheduled for Monday, October 19, according to regulatory filings by Reliance Industries.

The offering marks a significant milestone for India’s capital markets, bringing

one of the country’s largest digital services businesses closer to a stock market listing. With operations spanning connectivity and digital services, Jio Platforms has built a substantial subscriber base while expanding its presence across India’s digital economy.

Here’s everything investors need to know about the Jio Platforms IPO, including the price band, issue size, subscription dates, lot size, financial performance, grey market premium (GMP) and listing schedule.

Jio Platforms IPO: Key Details At A Glance

• IPO opening date: October 21, 2026
• IPO closing date: October 23, 2026
• Anchor investor bidding: October 19, 2026
• Price band: Rs 1,065-1,119 per share
• Issue size: Up to Rs 30,213 crore
• Issue type: Fresh issue of up to 27 crore equity shares
• Face value: Rs 10 per share
• Lot size: 12 shares
• Minimum investment: Rs 12,780 at the lower end and Rs 13,428 at the upper end of the price band
• Employee discount: Rs 54 per share for eligible employees
• Expected listing date: October 28, 2026
• Registrar: KFin Technologies

Jio Platforms IPO Price Band And Issue Size

Jio Platforms has fixed the IPO price band at Rs 1,065-1,119 per share. At the upper end of the range, the company could raise about Rs 30,213 crore through the issue.

The proposed offering would surpass Hyundai Motor India’s Rs 27,858.75 crore IPO in 2024, which currently holds the record for India’s largest public issue. It would also be around 47% larger than the Rs 20,557.23 crore IPO of Life Insurance Corporation of India in 2022.

The issue comprises a fresh issuance of up to 27 crore equity shares with a face value of Rs 10 each. Unlike the Hyundai Motor India and LIC offerings, which were entirely offers for sale by existing shareholders, Jio Platforms’ IPO will not include an offer-for-sale component.

This distinction is important for investors: the proceeds from a fresh issue will go to Jio Platforms, subject to the stated utilisation of funds, rather than to existing shareholders looking to sell their stakes.

Jio Platforms IPO GMP: What Investors Should Know

As the price band of the IPO has been announced, its grey market premium (GMP) will be available soon. However, it is important to note that GMP is not an official exchange metric, and it does not guarantee listing gains. Actual listing performance will depend on factors such as demand for the issue, market conditions, valuation, company fundamentals and broader investor sentiment.

Jio Platforms IPO Lot Size And Minimum Investment

Investors will have to apply for a minimum of 12 shares, with bids accepted in multiples of 12 thereafter. At the lower end of the price band, the minimum investment for one lot will be Rs 12,780. At the upper end, the investment will be Rs 13,428, excluding any applicable charges.

Eligible employees bidding under the employee reservation portion will receive a discount of Rs 54 per share, subject to the applicable offer terms.

The issue also includes a reservation of up to Rs 500 crore for eligible Jio Platforms employees and up to Rs 2,500 crore for eligible Reliance Industries shareholders. The shareholder reservation is intended for eligible individuals and Hindu undivided families (HUFs) holding Reliance Industries shares as of October 14, 2026, as specified in the offer documents.

Jio Platforms Financial Performance: Revenue And Profit Rise

Jio Platforms reported growth in revenue, net profit and operating earnings in the financial year ended March 2026, according to its draft red herring prospectus (DRHP) filed in June. The company’s consolidated revenue from operations rose 14.6% to Rs 1,46,885 crore in FY26 from Rs 1,28,218 crore in FY25. Net profit increased 15.1% to Rs 30,049 crore from Rs 26,109 crore in the previous financial year.

For comparison, Jio Platforms reported revenue of Rs 1,09,558 crore and net profit of Rs 21,423 crore in FY24.

Its earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 18.8% to Rs 76,255 crore in FY26, with an EBITDA margin of 51.91%. The company had more than 524 million subscribers, while average revenue per user (ARPU) stood at Rs 214 in the March 2026 quarter.

The financial figures highlight the scale of Jio Platforms’ business and its ability to generate substantial operating earnings.

How Will Jio Platforms Use The IPO Proceeds?

According to the draft prospectus, Jio Platforms intends to use the IPO proceeds to prepay certain borrowings of its material subsidiary, Reliance Jio Infocomm Ltd (RJIL), and for general corporate purposes.

Since the offering is structured entirely as a fresh issue, the proceeds will be received by the company, rather than by existing shareholders selling their holdings.

Jio Platforms’ total borrowings declined 3.1% year-on-year to Rs 70,781 crore, according to the DRHP. Its return on capital employed, however, stood at 10.76%, a metric investors may wish to examine alongside its earnings growth and debt profile.

Jio Platforms IPO: Shareholding And Business Risks

Reliance Industries held a 66.43% stake in Jio Platforms before the proposed IPO, while Meta Platforms and Google together held approximately 17.7%, according to the information provided in the draft prospectus.

The DRHP also highlighted the company’s dependence on entities within the promoter group. Reliance Retail is the sole distributor of Jio’s prepaid services, and prepaid revenue routed through it accounted for 77.08% of Jio Platforms’ consolidated revenue from operations in FY26.

This concentration is an important factor for investors to consider when assessing the company’s business relationships, revenue channels and potential risks.

Jio Platforms operates in a competitive and capital-intensive sector. Its growth prospects will need to be evaluated alongside regulatory developments, technology investment requirements, competitive pressures, valuation and its relationship with group companies.

Jio Platforms’ IPO has 19 book-running lead managers, including Kotak Mahindra Capital, Morgan Stanley, BofA Securities, Goldman Sachs and JP Morgan. KFin Technologies has been named as the registrar to the issue.

The company filed its draft red herring prospectus on June 19, setting the stage for the proposed public offering.

Disclaimer: News18 is part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.