Jio Platforms IPO Opens Today, ₹30,213 Crore Issue Draws Strong Interest; Check Price Band & GMP
· Free Press Journal
Mumbai: Jio Platforms, the digital services arm of Mukesh Ambani-led Reliance Industries, opened its Rs 30,213 crore initial public offering (IPO) for subscription on Wednesday, October 21, 2026. The issue, expected to be India's largest-ever IPO, will close on October 23.
Here are 10 key things investors should know before applying-
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Jio IPO Price Band
Jio Platforms has fixed the price band at Rs 1,065–Rs 1,119 per share. Investors can bid for a minimum of 12 shares, requiring an investment of Rs 13,428 at the upper price band.
India's Largest IPO
The Rs 30,213 crore offering is expected to surpass Hyundai Motor India's Rs 27,870 crore IPO in 2024. It comprises a fresh issue of up to 27 crore equity shares, without any offer-for-sale component.
Subscription And Listing Dates
The IPO will remain open from October 21 to October 23. Shares are scheduled to list on the BSE and NSE on October 28, 2026.
Jio IPO Grey Market Premium
Jio shares reportedly commanded a grey market premium (GMP) of Rs 245 on October 20, suggesting a potential listing price of Rs 1,364, nearly 22 per cent above the upper issue price. However, GMP is unofficial and does not guarantee listing gains.
Retail And Shareholder Reservation
Retail investors will receive at least 35 per cent of the net offer. Eligible Reliance Industries shareholders have a reservation of up to Rs 2,500 crore, while employees have a Rs 500 crore allocation.
Jio's Market Valuation
At the upper price band, Jio Platforms could command a valuation of approximately Rs 10.3 lakh crore, potentially becoming India's fourth-most valuable listed company.
Reliance Group's Market Position
Jio's listing could push Reliance Group's combined market capitalisation to approximately Rs 28.5 lakh crore, potentially overtaking Tata Group's Rs 25.5 lakh crore valuation.
Strong Financial Performance
Jio Platforms reported FY26 revenue of Rs 1.46 lakh crore, compared with Rs 1.28 lakh crore in FY25. Net profit increased to Rs 30,049 crore from Rs 26,109 crore.
Reliance Stock Jumps 2.6% As Jio Platforms ₹30,200 Crore IPO Opens For SubscriptionThe company had 533.3 million subscribers as of June 2026.
Anchor Investors And Fund Utilisation
Jio raised Rs 8,109.85 crore from 212 anchor investors, including LIC, BlackRock and global investment funds.
The company plans to utilise up to Rs 27,500 crore from IPO proceeds towards repayment or prepayment of borrowings owed by Reliance Jio Infocomm.
What Brokerages Recommend
Motilal Oswal Wealth Management has recommended subscribing to the IPO for potential listing gains and long-term growth.
Canara Bank Securities also favours subscription with a long-term perspective, citing opportunities in 5G, broadband, artificial intelligence and cloud computing.
Managing Director Akash Ambani expects these technologies to drive Jio's next growth phase.
Disclaimer: Brokerage recommendations reflect analysts' independent opinions. Investors should assess valuations, market risks and financial objectives before making investment decisions.