The Jio Platforms IPO is a Rs 30,213 crore issue open from 21 to 23 October 2026 at Rs 1,065 to Rs 1,119 a share, with a lot of 12 shares. Allotment is on 26 October and listing on 28 October.
Below: every date, quota and number from the offer, the financials, the valuation, the risks, how to apply and how to check allotment.
Jio Platforms IPO Details at a Glance
The Jio Platforms IPO is a book-built, fresh-issue main-board offer of 27 crore equity shares worth Rs 30,213 crore at the upper price band.
| Detail | Value |
|---|---|
| Issue type | Book-built IPO, fresh issue only |
| Issue size | 27,00,00,000 shares, Rs 30,213 crore |
| Price band | Rs 1,065 to Rs 1,119 |
| Face value | Rs 10 per share |
| Lot size | 12 shares |
| Opens and closes | 21 October to 23 October 2026 |
| Listing | NSE and BSE, 28 October 2026 |
| Registrar | Kfin Technologies Limited |
| Lead manager | Kotak Mahindra Capital, with 18 others |
| Promoter | Reliance Industries Limited |
Nothing in the offer is an offer for sale, so Reliance Industries sells no shares. The earlier Reliance AGM report on the Jio DRHP covers how the filing came about.
Jio IPO Date and Timetable
The Jio IPO opens on Wednesday 21 October 2026 and closes on Friday 23 October 2026, with allotment on Monday 26 October and listing on Wednesday 28 October.
| Event | Date |
|---|---|
| Anchor bidding | Mon, 19 October 2026 |
| IPO opens | Wed, 21 October 2026 |
| IPO closes | Fri, 23 October 2026 |
| Allotment finalised | Mon, 26 October 2026 |
| Refund and share credit | Tue, 27 October 2026 |
| Listing on NSE and BSE | Wed, 28 October 2026 |
Some broker apps show funds unblocking on 26 October. The Red Herring Prospectus on the Jio investor relations page is the final word on dates.
Jio IPO Price Band, Lot Size and Minimum Investment
The Jio IPO price band is Rs 1,065 to Rs 1,119, and one lot of 12 shares costs Rs 13,428 at the upper band.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | 1 | 12 | Rs 13,428 |
| Retail (maximum) | 14 | 168 | Rs 1,87,992 |
| sNII (minimum) | 15 | 180 | Rs 2,01,420 |
| sNII (maximum) | 74 | 888 | Rs 9,93,672 |
| bNII (minimum) | 75 | 900 | Rs 10,07,100 |
Retail bids are capped at Rs 2 lakh, which is why the retail maximum is 14 lots. At the lower band of Rs 1,065 one lot costs Rs 12,780.
Bid at the cut-off price if you want the shares at whatever final price is fixed. Your bank blocks the upper band amount until allotment.
Jio IPO Reservation, Shareholder Quota and Anchor Investors
Half of the net offer is reserved for qualified institutions, 35% for retail and 15% for non-institutional investors.
| Category | Shares | % of total issue |
|---|---|---|
| QIB (including anchor) | 12,14,81,894 | 44.99% |
| Anchor investors | 7,24,74,066 | 26.84% |
| NII (HNI) | 3,64,44,568 | 13.50% |
| Retail | 8,50,37,326 | 31.50% |
| Employees | 46,94,836 | 1.74% |
| Reliance shareholders | 2,23,41,376 | 8.27% |
| Total issue | 27,00,00,000 | 100% |
Employees and Reliance Industries shareholders sit outside the net offer of 24,29,63,788 shares. Retail can accommodate up to 70,86,443 applicants.
Jio IPO Subscription Status
The Jio Platforms IPO was subscribed 3.04 times by 5:55 PM IST on day 1, with retail at 0.73 times and institutions at 9.04 times.
| Category | Subscribed |
|---|---|
| QIB (excluding anchor) | 9.04 times |
| NII | 1.61 times |
| bNII (above Rs 10 lakh) | 1.75 times |
| sNII (below Rs 10 lakh) | 1.33 times |
| Retail | 0.73 times |
| Employees | 1.33 times |
| Shareholders | 1.41 times |
| Total | 3.04 times |
Retail and HNI bids tend to arrive late, so day 1 is a poor guide to the final figure. The exchanges publish live bidding on NSE India and BSE India, and this table is a dated snapshot.
Jio IPO GMP: What the Grey Market Premium Tells You
The Jio IPO GMP is the unofficial premium or discount at which Jio shares trade in the grey market before listing, and no exchange or regulator publishes it.
GMP moves hourly with sentiment and subscription, so a figure printed here would be wrong by the time you read it. The table shows how to turn any GMP you see into an implied listing price.
| GMP per share | Implied listing price | Gain or loss | Per lot |
|---|---|---|---|
| Rs 100 | Rs 1,219 | 8.94% | Rs 1,200 |
| Rs 50 | Rs 1,169 | 4.47% | Rs 600 |
| Rs 0 | Rs 1,119 | 0% | Rs 0 |
| Rs -50 | Rs 1,069 | -4.47% | Rs -600 |
The formula is issue price plus GMP, divided back by the issue price for the percentage. A high GMP has failed to hold on listing day before, and a low one has also been wrong.
For an issue this size, the listing price rests on what institutions do with a Rs 10 lakh crore stock, not on grey market traders. Use GMP as one signal and the valuation below as another.
About Jio Platforms Limited
Jio Platforms is a technology company, incorporated on 15 November 2019, that runs digital connectivity and digital services in India through its subsidiary Reliance Jio Infocomm Limited.
The offer documents on the Jio site list the full business and the industry report that supports these figures.
Jio Platforms Financials: Revenue, Profit and Debt
Jio Platforms grew total income 15.8% to Rs 1,49,759.1 crore and profit after tax 15.1% to Rs 30,052.7 crore in FY26.
| Item | 30 Jun 2026 | FY26 | FY25 | FY24 |
|---|---|---|---|---|
| Total income | 40,197.9 | 1,49,759.1 | 1,29,333.0 | 1,10,175.4 |
| Profit after tax | 7,764.1 | 30,052.7 | 26,120.3 | 21,434.0 |
| EBITDA | 20,864.5 | 76,255.4 | 64,170.0 | 54,958.7 |
| Net worth | 3,41,778.5 | 3,34,013.4 | 3,04,022.4 | 2,77,866.1 |
| Total borrowing | 61,372.2 | 70,781.0 | 73,060.3 | 54,348.9 |
| Total assets | 6,22,905.3 | 6,15,594.0 | 5,81,233.8 | 5,39,580.4 |
The 30 June 2026 column covers one quarter, not a year. Profit after tax grew 40% over two years, from Rs 21,434 crore in FY24.
| Indicator | 30 Jun 2026 | 31 Mar 2026 |
|---|---|---|
| EBITDA margin | 53.26% | 51.91% |
| PAT margin | 19.82% | 20.46% |
| Return on net worth | 2.30% | 9.42% |
| Net asset value per share | Rs 382.34 | Rs 373.66 |
| Price to book value | 2.93 times | 2.99 times |
The 2.30% return on net worth is for three months, so it is not comparable with the 9.42% for FY26.
What Jio Will Do With the IPO Money
Rs 27,500 crore of the proceeds, about 91% of the issue size, is to prepay borrowings of Reliance Jio Infocomm, and the balance is for general corporate purposes.
Borrowings stood at Rs 61,372.2 crore on 30 June 2026. Paying down Rs 27,500 crore would take that to about Rs 33,872 crore on the same balance, which is simple arithmetic and not company guidance.
For an investor the point is that the money cuts debt and does not fund a new plant, spectrum purchase or product. That shifts the case for the stock to existing earnings.
Jio IPO Valuation: Market Cap, P/E and P/B
At Rs 1,119 the Jio Platforms IPO values the company at Rs 10,30,490.55 crore after the issue, about 33.3 times FY26 earnings and 2.93 times book value.
| Metric | Pre-IPO | Post-IPO |
|---|---|---|
| Market cap at Rs 1,119 | Rs 10,00,277.55 crore | Rs 10,30,490.55 crore |
| EPS (FY26) | Rs 33.62 | Rs 33.72 |
| P/E | 33.28 times | 33.19 times |
| Promoter holding | 66.43% | 64.48% |
| Public holding | 33.57% | 35.52% |
Compare that P/E with listed telecom peers, Bharti Airtel above all, using their latest filings on NSE India. Peer multiples move daily, so this page does not print them.
Work out your return on the listing price
Enter Rs 1,119, the lot, and a sell price to see gain, return and annualised return.
Jio IPO Review: Strengths, Risks and Who Should Apply
The case for the Jio IPO is scale and steady earnings, and the case against is a full price of about 33 times earnings and proceeds that go to debt.
A short-term applicant is betting on listing-day demand, which GMP and subscription hint at but do not settle. A long-term applicant is betting on earnings growth that justifies the multiple.
Check each point against the Risk Factors chapter of the RHP rather than any summary, including this one. Whether to apply depends on your horizon, your other holdings and your risk limit.
How to Apply for the Jio IPO Online
You can apply for the Jio Platforms IPO through any broker app or net banking with UPI or ASBA, until the issue closes on 23 October 2026.
Fund the account
Keep at least Rs 13,428 in the bank account linked to your UPI ID, enough for 1 lot at the upper band.
Open the IPO section
Log in to your broker app or net banking, open the IPO list and pick Jio Platforms.
Choose the category
Select Individual, Shareholder or Employee. Use Shareholder only if you held Reliance Industries shares at the record date.
Enter lots and price
Enter up to 14 lots for retail and tick cut-off to bid at Rs 1,119.
Enter your UPI ID
Type your UPI ID and submit the bid.
Approve the mandate
Approve the collect request in your UPI app before the issue closes. The bid is not valid until you do.
The amount is blocked in your account and not debited. Only the shares allotted are paid for, and the rest is released after allotment.
Jio IPO Allotment Status: How to Check and Your Chances
The Jio IPO allotment is expected on Monday 26 October 2026, and you can check status on the registrar Kfin Technologies, BSE or your broker app.
Registrar
Open the Kfin Technologies IPO status page, select Jio Platforms and enter your PAN, application number or demat details.
BSE
Use the BSE allotment status page, choose equity, select the issue and enter your application number and PAN.
Broker app
Your broker shows the allotted quantity under the IPO orders tab. Shares reach your demat account on 27 October.
If the retail portion is not fully subscribed, every valid bid gets the shares it asked for. If it is oversubscribed, a lottery decides.
| Retail subscription | Chance of allotment |
|---|---|
| Below 1 time | Full allotment |
| 2 times | About 1 in 2 |
| 5 times | About 1 in 5 |
| 10 times | About 1 in 10 |
The retail portion fits up to 70,86,443 lots. Day 1 retail subscription of 0.73 times would give everyone shares if it held, and it may not.
Jio Platforms Share Price, Listing and Tax on Gains
Jio Platforms shares have no market price yet and are expected to list on NSE and BSE on Wednesday 28 October 2026.
Until then the only prices are the issue band of Rs 1,065 to Rs 1,119 and the unofficial GMP. Listing follows three working days after the close under the SEBI timeline for public issues, and you can read the rules on sebi.gov.in.
| Holding period | Tax rate |
|---|---|
| 12 months or less | 20% plus 4% cess |
| More than 12 months | 12.5% above Rs 1.25 lakh a year |
The STCG Calculator works out the tax on a listing-day sale, and the Capital Gains Calculator covers longer holds. The capital gains rules for equity are the same ones.
If you buy more Jio shares after listing at a different price, the Stock Average Calculator shows your new average cost.
Frequently Asked Questions: Jio Platforms IPO
Disclaimer: Figures are from the Jio Platforms offer documents on the Jio investor relations page and exchange bidding data as on 21 October 2026. Subscription and GMP change every hour. Read the Red Herring Prospectus before you bid. This page is general information, not investment advice, and Fermor is not a SEBI-registered investment adviser.