Jio Platforms IPO
Jio Platforms IPO Details
-
Open Date
21 Oct 2026
-
Close Date
23 Oct 2026
- IPO Price Range
₹ 1065 to ₹1119
- IPO Size
₹ 30,213 Cr
Jio Platforms IPO Timeline
Jio Platforms IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 21-Oct-2026 | 9.04 | 1.61 | 0.73 | 3.04 |
| 22-Oct-2026 | 12.45 | 5.58 | 1.54 | 5.27 |
| 23-Oct-2026 | 64.07 | 13.95 | 2.74 | 20.58 |
Last Updated: 23 October 2026 6:18 PM by 5paisa
Reliance Jio has redefined India’s digital transformation since its debut in 2016. A subsidiary of Reliance Industries, Jio pioneered mass-market 4G connectivity with affordable data plans and free calling, sparking what is now referred to as the “Jio Effect.” Today, Jio is India's largest telecom operator, offering a suite of services across 4G, 5G, broadband, smart devices, and a comprehensive digital ecosystem. Beyond telecom, Jio is steering key innovations in AI, smart homes, and digital business solutions. The company recently crossed 500 million users and announced bold expansion plans, including an imminent IPO, reinforcing its role as a foundational player in India’s digital future.
Established in: 2016
Managing Director: Pankaj M. Pawar
Peers:
| Metric | Jio Platforms Limited | Bharti Airtel Limited | Vodafone Idea Limited |
|---|---|---|---|
| Face Value (₹ per share) | 10 | 5 | 10 |
| Revenue from Operations (₹ Cr) | 146885.3 | 210972.8 | 44873.0 |
| EPS (Basic) (₹) | 33.63 | 45.96 | 3.21 |
| EPS (Diluted) (₹) | 33.59 | 44.37 | 3.21 |
| P/E | - | 40.71 | 3.99 |
| Return on Net Worth (RoNW) (%) | 9.42 | 20.32 | NM$ |
| NAV | 373.66 | 244.60 | -3.30 |
Jio Platforms Objectives
1. Prepayment, in full or in part, of certain outstanding borrowings availed by the Material Subsidiary, namely, RJIL
2. General corporate purposes
Jio Platforms IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹30,213 Cr |
| Offer For Sale | - |
| Fresh Issue | ₹30,213 Cr |
Jio Platforms Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 12 | 12780 |
| Retail (Max) | 14 | 168 | 187992 |
| S - HNI (Min) | 15 | 180 | 191700 |
| S - HNI (Max) | 74 | 888 | 993672 |
| B - HNI (Min) | 75 | 900 | 958500 |
Jio Platforms IPO Reservation Table
| Category | Subscription (x) | Shares Offered* | Shares Bid For | Total Amt* (₹ Cr.) | Total Applications |
|---|---|---|---|---|---|
| Anchor | 1 | 7,24,74,066 | 7,24,74,066 | 8,109.85 | - |
| QIB (Ex Anchor) | 64.07 | 4,90,07,828 | 3,13,99,89,276 | 3,51,364.80 | 3,265 |
| NII | 13.95 | 3,64,44,568 | 50,85,81,768 | 56,910.30 | 9,63,627 |
| bNII (> ₹10L) | 15.86 | 2,42,96,379 | 38,52,46,224 | 43,109.05 | 5,95,169 |
| sNII (< ₹10L) | 10.15 | 1,21,48,189 | 12,33,35,544 | 13,801.25 | 3,68,458 |
| Retail | 2.74 | 8,50,37,326 | 23,33,10,096 | 26,107.40 | 1,01,93,709 |
| Employees | 2.90 | 46,94,836 | 1,36,00,596 | 1,521.91 | - |
| Shareholders | 7.56 | 2,23,41,376 | 16,88,17,032 | 18,890.63 | - |
| Total ** | 20.58 | 19,75,25,934 | 4,06,42,98,768 | 4,54,795.03 | - |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Revenue | 109558.1 | 128218.41 | 146885.3 |
| EBITDA | 54958.7 | 64170.0 | 76255.4 |
| PAT | 21423.2 | 26109.0 | 30049.1 |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Total Assets | 539580.4 | 581233.8 | 615594.0 |
| Share Capital | 8939.0 | 8939.0 | 8939.0 |
| Total Liabilities | 260158.7 | 275052.6 | 278517.8 |
| Cash Flows (₹ Crores) | FY24 | FY25 | FY26 |
| Net Cash Generated From / (used in) Operating Activities | 57661.6 | 68155.7 | 77556.3 |
| Net Cash Generated From / (used in) Investing Activities | -56587.6 | -63726.4 | -43590.9 |
| Net Cash Generated From / (used in) Financing Activities | 379.3 | 1093.3 | -25419.0 |
| Net Increase (Decrease) in Cash and Cash Equivalents | 1453.3 | 5522.6 | 8546.4 |
Strengths
1. Market leader with massive subscriber base
2. Strong ARPU growth after tariff hikes
3. Backed by Reliance and global tech partners
4. Integrated digital ecosystem beyond telecom
Weaknesses
1. High capital expenditure requirements ongoing
2. Regulatory dependence in telecom pricing
3. Profitability sensitive to industry tariff cycles
4. Complex structure spanning multiple digital verticals
Opportunities
1. AI, cloud, and enterprise digitisation growth
2. Rising data consumption across rural India
3. Home broadband and smart home expansion
4. Potential overseas expansion in emerging markets
Threats
1. Intense industry competition impacting margins
2. Regulatory changes affecting spectrum economics
3. Technology disruption requiring continuous investments
4. Valuation risks if growth slows post-IPO
1. India’s largest telecom and digital platform
2. Strong revenue visibility with rising ARPU
3. Positioned for AI-led digital transformation
4. Landmark IPO with long-term compounding potential
India’s telecom and digital services industry is entering a high-growth phase driven by rising data usage, 5G adoption, AI integration, and enterprise digitisation. With over 900 million internet users and deeper digital penetration across rural markets, demand for affordable connectivity, cloud solutions, and digital platforms remains strong. Jio’s scale, network leadership, and platform approach position it to capture long-term industry growth.
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FAQs
The Jio Platforms IPO opens for subscription on Wednesday, 21 October 2026 and closes on Friday, 23 October 2026. UPI mandate approvals must be completed by 5 PM on 23 October. Dates are tentative until confirmed by the company.
The Jio Platforms IPO is a ₹30,213 crore issue, entirely a fresh issue of about 27 crore equity shares at the upper price band of ₹1,119. There is no offer for sale, so all proceeds go to the company.
The price band is ₹1,065 to ₹1,119 per equity share with a face value of ₹10. Bids are placed in lots of 12 shares, and the final issue price is fixed within this band.
Log in to 5paisa, open the IPO section and select Jio Platforms IPO. Enter the number of lots and the cut-off price, add your UPI ID, submit, and approve the mandate request in your UPI app before 5 PM on 23 October 2026.
The minimum lot is 12 shares, which costs ₹13,428 at the upper price band of ₹1,119. Retail investors can bid up to 14 lots (168 shares), or ₹1,87,992 at the upper band.
Share allotment is expected to be finalised on Monday, 26 October 2026. Refunds start and shares are credited to demat accounts on 27 October 2026. You can then check status with the registrar. All dates are tentative.
The Jio Platforms shares are expected to list on the BSE and NSE on Wednesday, 28 October 2026, after shares are credited on 27 October. The date is tentative and may change if the issue timeline changes.
The issue has multiple book running lead managers, including Kotak Mahindra Capital, Morgan Stanley India, BofA Securities India and Axis Capital. KFin Technologies Limited is the registrar. See the full list in the RHP.
Of the ₹30,213 crore fresh issue, ₹27,500 crore (about 91%) is meant for repaying or prepaying certain borrowings of the material subsidiary, Reliance Jio Infocomm Limited. The balance is for general corporate purposes.
The Jio Platforms IPO is the initial public offering of Jio Platforms Limited, the digital and telecom subsidiary of Reliance Industries. It is a ₹30,213 crore book-built fresh issue, opening 21 October 2026 and listing on BSE and NSE.
That depends on your goals and risk appetite. Supporting points include scale, high EBITDA margins and falling debt; points to weigh include valuation, deferred spectrum dues and regulatory risk. Read the RHP and consider advice from a SEBI-registered adviser.
Yes. Reliance Industries shareholders as on the RHP filing date can bid in the reserved shareholder category, for up to ₹2 lakh, using the demat account in which they hold RIL shares. Confirm the record date in the RHP.
After allotment on 26 October 2026, check the status on the registrar KFin Technologies website or the BSE/NSE allotment page using your application number, PAN or DP/client ID. 5paisa users can also check in the app.
Yes. Enter your UPI ID while applying and approve the mandate request in your UPI app before 5 PM on 23 October 2026. The amount is blocked, not debited, until shares are allotted.
At the upper band of ₹1,119 the pre-issue market capitalisation is about ₹10,00,277.55 crore. Reported pre-IPO P/E is 33.28 on EPS of ₹33.62, and P/B is 2.99 as of 31 March 2026. Verify against the RHP.
Per the RHP peer table, Jio's FY26 revenue from operations is ₹1,46,885 crore versus Airtel's ₹2,10,973 crore and Vodafone Idea's ₹44,873 crore. Jio's RoNW is 9.42% against Airtel's 20.32%. See the comparison table above.
Anchor investors' lock-in is 30 days for 50% of allotted shares (until about 24 November 2026) and 90 days for the remainder (until about 23 January 2027). Dates are tentative.