MUMBAI, NATIONAL, 14 OCTOBER, 2026 | GPN, SACHIN MURDESHWAR 📞 +91 8108510506: Reliance Industries-backed Jio Platforms is set to launch its Rs 30,213 crore initial public offering (IPO) on October 21, 2026. The proposed offering could become India’s largest-ever IPO, marking a significant step toward publicly listing one of Reliance Industries’ key digital businesses.Jio Platforms, the ​digital arm of ‌billionaire Mukesh Ambani’s Reliance ​Industries, set ​a price band ⁠of 1,065 ​rupees to ​1,119 Indian rupees per share on ​Wednesday, ​in what is set ‌to ⁠be India’s biggest-ever initial public offering, ​a ​company ⁠filing showed.At the upper end of the price band, Jio Platforms would raise Rs 30,213 crore through a fresh issue of 27 crore shares, surpassing Hyundai Motor India’s Rs 27,859-crore IPO in 2024. The issue values Jio Platforms at approximately Rs 10.3 lakh crore. The other major IPOs include the National Stock Exchange of India (NSE) at Rs 22,562 crore in 2026, Life Insurance Corporation of India (LIC) at Rs 20,557 crore in 2022, One 97 Communications (Paytm) at Rs 18,300 crore in 2021, and Tata Capital at Rs 15,512 crore in 2025.

The IPO comprises a fresh issue of up to 27.00 crore equity shares, with no offer for sale (OFS) by existing shareholders. The price band has been set at Rs 1,065 to Rs 1,119 per share.

Reliance Industries also announced a discount of Rs 54 per equity share for eligible employees applying under the employee reservation portion.

“The IPO Committee of the Board of Directors of JPL, at its meeting held today, October 14, 2026, has approved the Price Band, Employee Discount, and Minimum Bid Lot for the IPO,” the company said in its exchange filing.

The filing specified the employee discount as “A discount of Rs 54 per equity share for Eligible Employees bidding under the Employee Reservation Portion.”

At the upper price band, the effective price for eligible employees would be Rs 1,065 per share after the discount.

The issue will remain open for subscription until October 23, 2026. The basis of allotment is expected to be finalised on October 26, 2026, while the shares are tentatively scheduled to list on the National Stock Exchange (NSE) and the BSE on October 28, 2026.

Jio Platforms IPO – Issue Details

•  Book-Built Issue (Fresh Issue only)
• Up to Rs 30,213.00 crore
• Up to Rs 30,213.00 crore
•  Not Applicable
• Rs 10 per share
•  Rs 1,065 to Rs 1,119 per share
• 12 shares
• Rs 13,428 (12 shares at the upper price)
• BSE, NSE
•  Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, BofA Securities India Limited, Axis Capital Limited, BNP Paribas, Citigroup Global Markets India Private Limited, CLSA India Private Limited, DAM Capital Advisors Limited, Goldman Sachs (India) Securities Private Limited, HDFC Bank Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, IIFL Capital Services Limited, Jefferies India Private Limited, JM Financial Limited, J.P. Morgan India Private Limited, SBI Capital Markets Limited, UBS Securities India Private Limited and 360 ONE WAM Limited.
•  KFin Technologies Limited

Jio Platforms IPO Timeline (Tentative)

The expected IPO schedule is as follows:

Event	Date
Subscription Opening Date	21 October 2026
Subscription Closing Date	23 October 2026
Basis of Allotment Date	26 October 2026
Refund Initiation Date	27 October 2026
Credit of Shares	27 October 2026
Listing on NSE and BSE	28 October 2026
Mandate end date	7 November 2026
Lock-in end date for anchor investors (50%)	24 November 2026
Lock-in end date for anchor investors (remaining)	23 January 2027

Note: The allotment and listing dates are tentative and may be revised.

Jio Platforms IPO Category-wise Investment Limits

The application size for each category is as follows –

Category	Investment Range
Qualified Institutional Buyers (QIBs)	Not more than 50% of the Net Issue
Non-Institutional Investors (NIIs)	Not less than 35% of the Net Issue
Retail Individual Investors (RII)	Not less than 15% of the Net Issue

The minimum investment amount for each category, based on the upper price band of ₹1,119 per share, is as follows –

Investor Category	Lots	Shares	Investment Amount (Approx.)
Retail (Minimum)	1	12	Rs 13,428
Retail (Maximum)	14	168	Rs 1,87,992
sNII (Minimum)	15	180	Rs 2,01,420
bNII (Minimum)	75	900	Rs 10,07,100

Utilisation of IPO Proceeds

The company intends to utilise the net proceeds from the fresh issue towards:

• Prepayment, in full or in part, of certain outstanding borrowings availed by the material subsidiary, Reliance Jio Infocomm Limited (RJIL)
• General corporate purposes

About Jio Platforms Limited

Established in 2019, Jio Platforms Limited is a technology company focused on delivering digital connectivity and services throughout India. Its subsidiary, Reliance Jio Infocomm Limited (RJIL), provides mobile and fixed broadband, along with a wide range of digital products, including entertainment, cloud, smart home, gaming, and enterprise solutions, as well as AI-driven applications. By March 31, 2026, RJIL’s customer base had reached 524.4 million nationwide.

The company runs on a proprietary, end-to-end technology stack built in-house, spanning network infrastructure, devices, software, operating systems and digital applications. This vertically integrated approach speeds innovation, reduces reliance on external vendors, and enables the rollout of 4G, 5G, cloud, and AI technologies at scale. As a result, Jio Platforms is positioned as one of India’s foremost digital infrastructure and services providers.

Key Financial Highlights

Particulars	For the three-month period ended June 30, 2026  (in Rs crore)	FY26  (in Rs crore)	FY25  (in Rs crore)
Revenue from operations	3,91,729.00	1,46,885.00	1,28,218.00
EBITDA	20,864.50	76,255.40	64,170.00
Profit After Tax (PAT)	7,764.10	30,049.70	26,120.30