Jio Platforms opened its ₹30,213 crore IPO for public bidding on 21 October 2026, the largest mainboard issue of the year. The price band is ₹1,065 to ₹1,119 a share. Bidding runs until 23 October, and one lot of 12 shares costs ₹13,428 at the upper band.
Key facts for the Jio Platforms IPO
| Detail | Jio Platforms IPO |
|---|---|
| Price band | ₹1,065 to ₹1,119 |
| Issue size | ₹30,213 crore, fresh issue only |
| Lot size | 12 shares |
| Minimum at upper band | ₹13,428 |
| Bidding window | 21 to 23 October 2026 |
| Allotment | 26 October 2026 |
| Refund and demat credit | 27 October 2026 |
| Listing | 28 October 2026, BSE and NSE |
| Registrar | KFin Technologies |
Where the money goes
The issue is up to 27 crore fresh shares. The offer document says the money will prepay borrowings of Reliance Jio Infocomm, Jio's telecom subsidiary, and meet general corporate purposes. It does not split the amount between the two. Reuters reports that up to ₹27,500 crore of the net proceeds is meant for the debt.
Reliance Industries, the promoter, holds 66.43% before the issue and 64.48% after it, according to our records of the offer document.
The anchor book came first
Jio allotted shares worth about ₹8,110 crore to anchor investors on 19 October, roughly 27% of the issue (8,110 divided by 30,213). Reuters, citing two sources, reported that anchor bids topped $25 billion. We covered the anchor names in our anchor book post. Anchor demand is not public demand. The next three days show that.
The business and the numbers
Jio's telecom arm served 524.4 million customers on 31 March 2026. For FY2026, revenue from operations was ₹1,46,885 crore, up from ₹1,28,218 crore a year earlier. Profit after tax was ₹30,053 crore. At the upper band, the offer document puts the post-issue market value at about ₹10.3 lakh crore, a price-to-earnings multiple of 33.19.
What our data shows
At ₹30,213 crore, this is the biggest of 105 mainboard IPOs in 2026. Our tracker had the grey market premium at ₹273, or 24.4%, on the morning of 21 October. It was ₹221 on 16 October. The grey market is an unofficial dealer quote, not an exchange price. On the last 10 mainboard listings, the final GMP was off by 11 percentage points on average, overstating the listing gain five times and understating it five times. Across 2026, 66 of 100 mainboard IPOs opened above their issue price, with a median listing gain of 6.92%.
What happens next
Day-wise bids will appear on the Jio Platforms subscription page as exchanges publish them. Allotment is due on 26 October, refunds on 27 October and listing on 28 October. Full terms, financials and the registrar details are on the Jio Platforms IPO page.
