Jio Platforms IPO: Price Band Set At Rs 1,065-1,119, Valuation At Rs 10.3 Lakh Crore

Jio Platforms, the digital services arm of Reliance Industries, has set a price band of Rs 1,065-1,119 per share for its initial public offering (IPO), which will be the biggest IPO India has ever seen. The company is seeking to raise up to Rs 30,213 crore through a fresh issue of 270 million equity shares, valuing it at around Rs 10.3 lakh crore at the upper end of the price band.

The IPO will surpass Hyundai Motor India's Rs 27,870-crore issue in October 2024 and the Life Insurance Corporation of India's (LIC) Rs 21,008-crore IPO in May 2022, which were India's two biggest public issues so far.

Reliance Industries said in a stock exchange filing on October 14 that Jio Platforms had approved the price band, an employee discount of Rs 54 per share and a minimum bid lot of 12 shares.

Jio Platforms IPO Dates

The Jio Platforms IPO will open for subscription on Wednesday, October 21, and close on Friday, October 23. Bidding by anchor investors will take place on Monday, October 19.

The basis of allotment is expected to be finalised on October 26, 2026, and the shares are likely to be listed on the BSE and NSE on October 29, 2026.

Jio Platforms IPO: Price Band, Lot Size And Other Key Details

Reliance Industries said in a stock exchange filing on October 14 that Jio Platforms had set the IPO price band at Rs 1,065-1,119 per share. Eligible employees will get a discount of Rs 54 per share.

Investors will need to apply for at least 12 shares, requiring an investment of Rs 13,428 at the upper end of the price band. After the employee discount, eligible employees will need to pay Rs 12,780 for the same number of shares.

The IPO includes a reservation of shares worth up to Rs 500 crore for eligible employees and up to Rs 2,500 crore for eligible Reliance Industries shareholders. The shareholder reservation is available to eligible individual and Hindu Undivided Family (HUF) public shareholders of Reliance Industries as of October 14, 2026, subject to applicable eligibility rules.

The issue consists entirely of fresh shares, with no offer for sale by existing shareholders. The proceeds are intended primarily to repay borrowings of Reliance Jio Infocomm, Jio Platforms' telecom subsidiary, with the balance earmarked for general corporate purposes.