Jio IPO GMP Rises To 22% As India’s Biggest-Ever IPO Opens On October 21

Jio Platforms’ initial public offering (IPO) is set to open for subscription on October 21. The issue will close on October 23. The Rs 30,213-crore IPO comprises a fresh issue of 270 million shares. It is set to be India’s largest-ever public issue, valuing Jio Platforms at around Rs 10.30 lakh crore at the upper end of the price band.

The price band is Rs 1,065-1,119 per share, and the lot size is 12 shares. Retail investors will need at least Rs 13,428 to apply at the upper price band. The allotment is expected to be finalised on October 26, and the shares are scheduled to list on the BSE and NSE on October 28.

As of October 20, Jio Platforms’ GMP stood at Rs 243 per share, indicating a potential listing price of Rs 1,362, or a 21.72 per cent premium over the upper price band of Rs 1,119. However, GMP is an unofficial indicator and can change before listing. The actual listing price may differ, and the premium does not guarantee listing gains.

Jio Platforms operates across mobile and fixed broadband connectivity, digital applications, enterprise services, cloud and artificial intelligence. Its subsidiary, Reliance Jio Infocomm, had 533.3 million customers as of June 30, 2026.

Jio IPO Anchor Book Attracts Rs 2.5 Lakh Crore In Bids

Jio Platforms raised Rs 8,109.85 crore from 212 anchor investors on October 19, allotting 72.47 million shares at Rs 1,119 apiece. The anchor book received bids worth more than Rs 2.5 lakh crore, over 30 times the amount available for allocation.

The Life Insurance Corporation of India (LIC) received the largest allocation, worth Rs 499.98 crore, accounting for 6.17 per cent of the anchor book. New World Fund Inc. received shares worth Rs 486.27 crore, or about 6 per cent, while the Government of Singapore was allotted shares worth Rs 340.93 crore, accounting for around 4.20 per cent.

SBI Focused Fund received an allocation worth Rs 315 crore, or about 3.88 per cent of the anchor book. BNP Paribas Financial Markets - ODI was allotted shares worth Rs 303.25 crore, accounting for around 3.74 per cent.

The anchor book also included global investment firms such as BlackRock, Fidelity Investments, Capital Group, T. Rowe Price, Schroders, JPMorgan Asset Management, Franklin Templeton and Invesco. Sovereign investors included the Abu Dhabi Investment Authority, GIC, the Qatar Investment Authority and Norway’s sovereign wealth fund.

Domestic mutual funds received 34.34 per cent of the anchor allocation, worth Rs 2,784.96 crore. Life insurers and pension funds received 13.44 per cent, or Rs 1,089.95 crore. The remaining allocation went to other domestic and overseas institutional investors.