Jio Platforms IPO Open 2026: Dates, Price Band, Lot Size & Details
· 9 min read · Written by the BuyUnlistedShares desk. Information only, not investment advice.
Jio Platforms IPO is open for subscription from 21 Oct 2026 to 23 Oct 2026 with a price band of ₹1065 to ₹1119 per share. Read the full offer document facts, issue breakdown, financial statistics, and key risk factors.
Direct answer: The Jio Platforms IPO opened for public subscription on 21 Oct 2026 and closes on 23 Oct 2026. The mainboard issue carries a price band of ₹1065 to ₹1119 per share with a lot size of 12 equity shares, requiring a minimum retail application of ₹13,428 at the upper price band. The ₹30,213 Cr offering consists entirely of fresh issue shares.
Source: RHP filed with SEBI (Oct 2026).
The grey-market premium (GMP) history for Jio Platforms shows an unofficial and indicative premium ranging from a low of ₹250 (+22.34%) at 06:07 on 21 Oct 2026 to a high of ₹277 (+24.75%) at 03:32 on 21 Oct 2026, standing at ₹253 (+22.61%) as of 21 Oct 2026 at 07:18.
Jio Platforms IPO Structure, Dates, and Key Issue Terms
Jio Platforms Limited is offering 27,00,00,000 equity shares in a book-built mainboard issue totaling ₹30,213 Cr. The equity shares have a face value of ₹10 each and will be listed on both the National Stock Exchange (NSE) and the BSE. The subscription window opens on 21 Oct 2026 and closes on 23 Oct 2026.
| Item | Value | As of |
|---|---|---|
| Price band | ₹1,065 – ₹1,119 | 21 Oct 2026 |
| Lot size | 12 shares | 21 Oct 2026 |
| Minimum application | ₹13,428 | 21 Oct 2026 |
| Issue size | ₹30,213 Cr | 21 Oct 2026 |
| Fresh issue | ₹30,213 Cr | 21 Oct 2026 |
| Exchange | NSE, BSE | 21 Oct 2026 |
| Issue type | MAINBOARD | 21 Oct 2026 |
| Face value | ₹10 | 21 Oct 2026 |
| Opens | 21 Oct 2026 | 21 Oct 2026 |
| Closes | 23 Oct 2026 | 21 Oct 2026 |
| Allotment | 26 Oct 2026 | 21 Oct 2026 |
| Listing | 28 Oct 2026 | 21 Oct 2026 |
| Registrar | Kfin Technologies Ltd. | 21 Oct 2026 |
| GMP | ₹253 (unofficial, indicative) | 21 Oct 2026 |
Per the RHP filed with SEBI (Oct 2026), the allotment of shares is scheduled for completion on 26 Oct 2026. Unsuccessful applicants will receive refunds on 27 Oct 2026, and allotted shares will be credited to demat accounts on 27 Oct 2026. Trading in equity shares is set to commence on 28 Oct 2026.
Retail investors can apply for a minimum of 1 lot (12 shares) at ₹13,428 computed at the upper price band of ₹1119 per share as of 21 Oct 2026. The maximum retail application is 15 lots (180 shares) for ₹2,01,420. Small High Net-Worth Individual (sNII) bidders require a minimum application of 15 lots (180 shares) amounting to ₹2,01,420, while Big High Net-Worth Individual (bNII) bidders require a minimum of 75 lots (900 shares) amounting to ₹1,00,7,100.
The issue is being managed by a syndicate of book-running lead managers including Kotak Mahindra Capital Co. Ltd., Morgan Stanley India Co. Pvt. Ltd., BofA Securities India Ltd., Axis Capital Ltd., HDFC Bank Ltd., ICICI Securities Ltd., and JM Financial Ltd., among others. Kfin Technologies Ltd. is acting as the registrar for the issue. Additional listing details and filing history are available on Jio Platforms on BuyUnlistedShares and the overall IPO calendar.
Subscription Status and Share Reservation
As of 21 Oct 2026 at 07:20, the overall subscription for the Jio Platforms IPO stands at 1.65x. Qualified Institutional Buyers (QIB) subscribed 4.86x of their allotted quota, Non-Institutional Investors (NII) subscribed 0.61x (sNII at 0.79x and bNII at 0.52x), and Retail Individual Investors subscribed 0.48x.
The subscription chart shows total bidding demand moving from 1.15x at 05:21 on 21 Oct 2026 to 1.65x at 07:20 on 21 Oct 2026 during the initial bidding period.
The total issue of 27,00,00,000 shares is reserved across investor categories as follows:
- Anchor Investor Portion: 7,24,74,066 shares
- QIB Portion (ex-anchor): 4,90,07,828 shares (not more than 50% of net issue)
- NII (HNI) Portion: 3,64,44,568 shares (not less than 15% of net issue), split into sNII (1,21,48,189 shares) and bNII (2,42,96,379 shares)
- Retail Portion: 8,50,37,326 shares (not less than 35% of net issue)
- Employee Reservation: 46,94,836 shares
- Shareholder Reservation: 2,23,41,376 shares
The shareholder quota is set aside for eligible equity shareholders of Reliance Industries Ltd. as of the record date of 14 Oct 2026. For detailed information regarding shareholder eligibility criteria and holding rules, refer to Jio IPO Shareholder Quota: Will Reliance Shareholders Get Jio Shares? Eligibility, Discount & How to Apply. Investors following pre-IPO technology and retail businesses can also explore Reliance Retail Unlisted Share Price 2026 & Jio Platforms Price: Complete Pre-IPO Investor Guide or use the Unlisted shares screener.
Objects of the Offer and Utilization of Proceeds
The issue consists entirely of a fresh issue of ₹30,213 Cr. Per the RHP filed with SEBI (Oct 2026), the company intends to allocate the net proceeds toward specific capital and operational requirements:
| Objects of the Offer | Amount (₹ Cr) |
|---|---|
| Prepayment, in full or in part, of certain outstanding borrowings availed by the Material Subsidiary, Reliance Jio Infocomm Limited (RJIL) | 27,500.00 |
| General corporate purposes | Unallocated balance |
Business Operations and Scalability
According to the RHP filed with SEBI (Oct 2026), Jio Platforms Limited serves as a digital technology holding entity, operating primarily through its subsidiary Reliance Jio Infocomm Limited (RJIL). The company delivers digital connectivity and technology services across India. As of 31 Mar 2026, the company served over 524 million customers through its telecommunications and digital ecosystem.
The company maintains a proprietary technology platform spanning network infrastructure, software applications, operating systems, cloud capabilities, digital devices, and artificial intelligence solutions. Consumer applications include MyJio, JioTV+, JioSaavn, JioGames, JioAICloud, and fixed wireless access through JioAirFiber. For enterprises, Jio Platforms provides connectivity, cloud services, IoT, cybersecurity, managed services, unified communications, and private 5G networks. As of 31 Mar 2026, the company employed 28,163 full-time personnel.
Financial Performance and Peer Comparison
The offer document outlines financial figures for recent financial years and the three-month period ending 30 Jun 2026:
The financial trend chart illustrates total income rising from ₹1,10,175.4 Cr in FY24 to ₹1,29,333 Cr in FY25 and ₹1,49,759.1 Cr in FY26, alongside Q1 FY27 (the three months to 30 Jun 2026) revenue of ₹40,197.9 Cr.
| Financial Metric (₹ Cr) | Q1 FY27 (3 months to 30 Jun 2026) | FY26 (31 Mar 2026) | FY25 (31 Mar 2025) | FY24 (31 Mar 2024) |
|---|---|---|---|---|
| Total Income | 40,197.90 | 1,49,759.10 | 1,29,333.00 | 1,10,175.40 |
| EBITDA | 20,864.50 | 76,255.40 | 64,170.00 | 54,958.70 |
| Profit After Tax (PAT) | 7,764.10 | 30,052.70 | 26,120.30 | 21,434.00 |
| Net Worth | 3,41,778.50 | 3,34,013.40 | 3,04,022.40 | 2,77,866.10 |
| Total Borrowing | 61,372.20 | 70,781.00 | 73,060.30 | 54,348.90 |
| Total Assets | 6,22,905.30 | 6,15,594.00 | 5,81,233.80 | 5,39,580.40 |
Key financial ratios stated in the offer document as of 31 Mar 2026 include an EBITDA margin of 51.91%, PAT margin of 20.46%, Return on Net Worth (RoNW) of 9.42%, and Return on Capital Employed (ROCE) of 10.76%. NAV per share stood at ₹373.66. At the upper band price of ₹1119, the pre-issue P/E ratio is 33.3x (based on FY26 pre-issue EPS of ₹33.62) and the post-issue P/E ratio is 33.2x (based on FY26 post-issue EPS of ₹33.72 per the RHP). The Price-to-Book (P/B) ratio is 2.99x based on the NAV of ₹373.66.
The peer comparison table below reflects key financial metrics reported by listed peers as of 31 Mar 2026 per the offer document:
| Company Name | Basic EPS (₹) | Diluted EPS (₹) | NAV (₹ per share) | P/E (x) | RoNW (%) |
|---|---|---|---|---|---|
| Jio Platforms Ltd. | 33.63 | 33.59 | 373.66 | 33.20* | 9.42 |
| Bharti Airtel Ltd. | 45.96 | 44.37 | 244.60 | 40.71 | 20.32 |
| Vodafone Idea Ltd. | 3.21 | 3.21 | -3.30 | 3.99 | N/A |
*Note: P/E for Jio Platforms Ltd. represents post-issue valuation at the upper price band of ₹1119 per the RHP as of 31 Mar 2026.
Key Risk Factors Stated in the Offer Document
The offer document outlines several operational, regulatory, and financial risk factors including:
- Spectrum and Licence Expiry: The unified licence for telecommunications services held by RJIL across Indian service circles is due for renewal in October 2033.
- Network Continuity Risks: Operational success depends on uninterrupted performance and availability of network, technology, and passive infrastructure.
- Technological Obsolescence: The telecommunications and connectivity sectors experience rapid technological change, exposing infrastructure to technological obsolescence risks.
- Trademark Ownership: The "Jio" trademark is owned by Promoter Reliance Industries Ltd. and is also utilized by other Reliance Group entities and affiliates not controlled by the issuer.
- Promoter Related-Party Transactions: The company maintains various ongoing business and commercial agreements with the Promoter, Reliance Retail Ltd., and other group entities.
- Passive Infrastructure Dependence: Network deployment relies on a limited group of passive infrastructure service providers for telecommunications towers and fiber networks.
- Cybersecurity and Data Threats: Vulnerability to cyberattacks, data breaches, or social engineering could disrupt operations.
- Existing Indebtedness: As of 30 Jun 2026, total borrowings stood at ₹61,372.2 Cr.
Frequently Asked Questions
When does the Jio Platforms IPO open and close?
The Jio Platforms IPO opens for subscription on 21 Oct 2026 and closes on 23 Oct 2026.
What is the price band and minimum application size for retail investors?
The price band is set between ₹1065 and ₹1119 per share. With a lot size of 12 shares, the minimum retail application requires ₹13,428 calculated at the upper price band as of 21 Oct 2026.
What are the allotment and listing dates for Jio Platforms IPO?
The allotment basis is scheduled to be finalized on 26 Oct 2026, refunds and share credits to demat accounts will occur on 27 Oct 2026, and listing on the NSE and BSE is scheduled for 28 Oct 2026.
Who is eligible to apply under the shareholder reservation category?
Equity shareholders who held shares of Reliance Industries Ltd. as of the record date on 14 Oct 2026 are eligible to submit applications under the shareholder reservation portion of 2,23,41,376 shares.
How will the company utilize the fresh issue proceeds?
Per the RHP filed with SEBI (Oct 2026), out of the total ₹30,213 Cr fresh issue proceeds, ₹27,500 Cr will be utilized for the full or partial prepayment of outstanding borrowings of subsidiary Reliance Jio Infocomm Limited (RJIL), with the balance allocated to general corporate purposes.
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Information only, not investment advice. Unlisted and pre-IPO securities carry liquidity, valuation and listing-timing risk; read the offer document and consult a SEBI-registered investment adviser for advice specific to your situation.
