What is Jio Platforms IPO?

Jio Platforms IPO is a main-board book building issue of 27,00,00,000 equity shares of the face value of ₹10 each, aggregating up to ₹30,213 Cr. The issue is entirely a fresh issue of equity shares by the Company and includes a reservation for Eligible Employees and Eligible RIL Shareholders.

When does the Jio Platforms IPO open and close?

The IPO opens on Wednesday, October 21, 2026, and closes on Friday, October 23, 2026. The Anchor Investor Bidding Date is Monday, October 19, 2026.

What is the price band of the Jio Platforms IPO?

The IPO price band is set at ₹1,065 to ₹1,119 per share. The face value of each equity share is ₹10.

What is the lot size and minimum investment for Jio Platforms IPO?

The lot size is 13 shares. The minimum investment required for retail investors is ₹13,845 (at the lower price band) or ₹14,547 (at the upper price band).

What is the total issue size of the Jio Platforms IPO?

The total issue size is up to ₹30,213 Cr, comprising a fresh issue of 27,00,00,000 equity shares. There is no offer for sale component.

Where will Jio Platforms shares be listed?

The shares are proposed to be listed on both BSE and NSE. NSE is the Designated Stock Exchange.

Who is the registrar for the Jio Platforms IPO?

KFin Technologies Limited is the registrar for the IPO.

What is the post-IPO market cap of Jio Platforms?

The post-IPO market cap will be determined based on the final Issue Price and post-issue share capital. As of the RHP, the pre-issue paid-up equity share capital is ₹89,390 million (8,939,030,830 equity shares of face value ₹10 each).

What are the company's key products?

The company offers 4G/5G mobile connectivity, JioFiber and JioAirFiber fixed broadband, JioTV+ content aggregation, JioSaavn music streaming, JioGames cloud gaming, JioAICloud, JioPC, JioBharat smart feature phones, JioBrain AI platform, JioThings IoT, JioCX CPaaS, JioCloud enterprise cloud, managed Wi-Fi, and digital advertising.

Who are the promoters of Jio Platforms?

Reliance Industries Limited is the sole promoter of Jio Platforms Limited, holding 5,937,841,645 equity shares (66.43% of pre-issue paid-up equity share capital).

What is the objective of the Jio Platforms IPO?

The Net Proceeds will be used for (i) prepayment, in full or in part, of certain outstanding borrowings availed by the Material Subsidiary, RJIL (up to ₹275,000 million); and (ii) general corporate purposes. The amount utilised for general corporate purposes shall not exceed 25% of the Gross Proceeds.

What is the peer comparison for Jio Platforms IPO?

The listed peers include Bharti Airtel Limited and Vodafone Idea Limited. Jio Platforms is the market leader in India with ~49.78% wireless broadband market share and ~43.32% overall fixed broadband market share as of June 30, 2026.

Who are the selling shareholders in the Jio Platforms IPO?

There are no selling shareholders. The IPO is entirely a fresh issue of equity shares by the Company.

What is the employee reservation portion in the Jio Platforms IPO?

The Employee Reservation Portion comprises up to ₹5,000 million (₹500 Cr) available for allocation to Eligible Employees, on a proportionate basis. Eligible employees are entitled to a discount of ₹54 per share.

What is the RIL Shareholders Reservation Portion in the Jio Platforms IPO?

The RIL Shareholders Reservation Portion comprises up to ₹2,500 Cr available for allocation to Eligible RIL Shareholders (individuals and HUFs who are public equity shareholders of Reliance Industries Limited), on a proportionate basis.

What is the GMP of Jio Platforms IPO?

The grey market premium (GMP) for Jio Platforms IPO is approximately ₹219-₹224 as of October 14, 2026, indicating an estimated listing price of ₹1,284-₹1,343, which is a premium of approximately 20% over the upper price band.

IPO Details

Jio Platforms Limited IPO

Apply Now Track All IPOs

Mainboard IPO

₹13,845

Minimum Investment

Exchange Listed · NSE / BSESEBI Regulated Issue

About Company

Company Name: Jio Platforms Limited

Industry / Sector: Technology / Digital Services / Telecommunications & Digital Connectivity

Founded Year: November 2019

Promoters: Reliance Industries Limited

Jio Platforms Limited is a technology platform company built on proprietary digital technology and pan-India digital connectivity as its foundational layer, driving digital transformation in India. It is the holding company of Reliance Jio Infocomm Limited (RJIL), India's largest telecom operator, and owns a vertically integrated stack spanning network, device engineering, software and operating systems, and digital applications. The Company provides 4G/5G mobile connectivity, fixed broadband (JioFiber, JioAirFiber), enterprise connectivity, cloud services (JioCloud), content and entertainment (JioTV+, JioSaavn, JioGames, JioHotstar), AI platforms (JioBrain), IoT (JioThings), CPaaS (JioCX), and other digital services. RJIL served 533.3 million customers in India as of June 30, 2026, and operates the world's third-largest 5G customer base with 284.9 million 5G subscribers. The Company has filed 7,220 patent applications across 4G, 5G, 6G, AI and digital technologies and is the only digital connectivity provider globally with an end-to-end 5G SA technology stack deployed at nationwide scale. As of June 30, 2026, the Company had 27,932 full-time employees and had 362.6 million average monthly active users across its family of applications.

IPO Basic Details

Company Name	Jio Platforms Limited
IPO Type	Mainboard IPO
Price Band	1,065 – 1,119
Lot Size	13 Shares
Total Issue Size	27,00,00,000 Equity Shares (₹30,213 Cr)

IPO Strengths & Risks

Strengths

Only digital connectivity provider globally with end-to-end 5G SA technology stack deployed at nationwide scale
Market leader with ~49.78% wireless broadband market share and ~43.32% overall fixed broadband market share in India
Largest spectrum bank in India at 26,800.8 MHz with average remaining life of ~15.8 years
Access to 360,537 network towers and ~1.0 million route km of fibre network
Strong R&D with 7,220 patent applications filed globally and 1,043 granted
Multi-layered digital services ecosystem spanning entertainment, cloud, AI, IoT and CPaaS
Proprietary UBR-based FWA technology and largest FWA customer base in India (14.0 million)
Strong backing of Reliance Group with access to retail distribution via Reliance Retail Limited
Strong financial profile with EBITDA of ₹762,554 million in FY2026 and Net Leverage of 0.36x
Backed by marquee global investors including Meta, Google, Saudi PIF, KKR, Silver Lake, Mubadala, TPG, Vista, ADIA, Intel and Qualcomm

Risks

Dependence on Reliance Retail Limited as sole distributor of prepaid connectivity services (~77% of consolidated revenue)
Revenue concentration risk with RJIL contributing ~87.74% of consolidated revenue and ~93.76% of PAT in FY2026
Regulatory risk including TRAI/DoT compliance and evolving telecom regulations
Capital-intensive business requiring significant spectrum and capex investments
Dependence on passive infrastructure service providers (SDIL, JDFPL)
Cybersecurity, data privacy and AI/ML model risks
Geopolitical risks including Middle East conflicts
Technology obsolescence risk including satellite-based broadband competition
Related party concentration with the Reliance Group
Fresh issue proceeds primarily for debt prepayment; no OFS

IPO Important Dates

IPO Open Date	21 Oct 2026
IPO Close Date	23 Oct 2026
Basis of Allotment	26 Oct 2026
Refund Initiation	26 Oct 2026
Demat Credit Date	26 Oct 2026
Listing Date	28 Oct 2026
Anchor Investor Date	-
UPI Mandate Deadline	-

IPO Objectives

Capital expenditure for machinery and equipment – -
Funding working capital requirements – -
Debt repayment – -
General corporate purposes – -

Investor Reservation

QIB Quota	Not more than 50% of the Net Issue
Retail Quota	Not less than 35% of the Net Issue
HNI Quota	-
Employee Quota	-
Shareholder Quota	-
Anchor Investor Allocation	-

Market Lot Details

Application	Lot Size	Shares	Amount
Retail Minimum	1 Lot	13	₹13,845 (at lower band) / ₹14,547 (at upper band)
Retail Maximum	15 Lots	195	₹2,07,675 (at lower band) / ₹2,18,205 (at upper band)
S-HNI Minimum	16 Lots	208	₹2,21,520 (at lower band) / ₹2,32,752 (at upper band)
S-HNI Maximum	76 Lots	988	₹10,52,220 (at lower band) / ₹11,05,572 (at upper band)
B-HNI Minimum	77 Lots	1001	₹10,66,065 (at lower band) / ₹11,20,119 (at upper band)

Key Performance Indicators (KPI)

ROE	9.42% (FY26), 2.30% (Q1 FY27)
ROCE	10.76% (FY26), 2.56% (Q1 FY27)
RoNW	-
PAT Margin	20.46% (FY26), 19.82% (Q1 FY27)
EBITDA Margin	51.91% (FY26), 53.26% (Q1 FY27)
EPS	₹33.63 Basic / ₹33.59 Diluted (FY26), ₹8.69 Basic / ₹8.68 Diluted (Q1 FY27)
NAV per share	-
Debt to Equity	0.18 (Q1 FY27)
P/E Ratio	-
Industry P/E	-

Company Financial Data

Period	Assets	Total Income	PAT	EBITDA	Net Worth	Borrowings
Q1 FY2027 (Jun 30, 2026)	₹6,22,905.30 Cr	₹40,197.90 Cr	₹7,764.10 Cr	₹20,864.50 Cr	₹3,44,891.90 Cr	₹61,372.20 Cr
FY2026 (Mar 31, 2026)	₹6,15,594.00 Cr	₹1,49,759.10 Cr	₹30,049.10 Cr	₹76,255.40 Cr	₹3,37,076.20 Cr	₹70,781.00 Cr
FY2025 (Mar 31, 2025)	₹5,81,233.80 Cr	₹1,29,333.00 Cr	₹26,109.00 Cr	₹64,170.00 Cr	₹30,60,474.00 Cr	₹73,060.30 Cr
FY2024 (Mar 31, 2024)	₹5,39,580.40 Cr	₹1,10,175.40 Cr	₹21,423.20 Cr	₹54,958.70 Cr	₹27,82,864.00 Cr	₹54,348.90 Cr

Grey Market Premium

GMP Price	₹219 - ₹224 (as of 14 Oct 2026)
Kostak Rate	Not Available
Subject to Sauda	Not Available
Last Updated	14 Oct 2026
Estimated Listing Price	₹1,284 - ₹1,343 (approx. 20% premium over upper price band)

IPO Subscription Data

Total Subscription	Data will be available soon
QIB (Ex Anchor)	Pending
HNI Subscription	Pending
Retail Subscription	Pending
Anchor	-

IPO Intermediaries

Registrar: KFin Technologies Limited

Registrar Website: https://www.kfintech.com

IPO Lead Manager(s)

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, 360 ONE WAM Limited

IPO Documents

RHP

Frequently Asked Questions (FAQ)

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