Jio Platforms IPO priced at Rs 1,065-1,119 a share, report says; opens Oct 21
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Jio Platforms is set to price its IPO at Rs 1,065-1,119 a share, raising up to about Rs 30,213 crore from 21 October 2026, a report said on 9 October.
What Happened
Jio Platforms, the telecom and digital services arm of Reliance Industries, is set to price its initial public offering (IPO) at Rs 1,065 to Rs 1,119 per share, according to a Bloomberg report published on Friday, 9 October 2026 and carried widely by Indian business media. At the top of that range the company would raise about Rs 30,213 crore, which would make it the largest IPO in India's history. The report said public bidding is scheduled to open on 21 October and close on 23 October, with the anchor book opening on 19 October and the shares expected to begin trading on 28 October. The company had not formally confirmed the price band or dates when this story was written; those will be fixed in its final red herring prospectus.
Key Facts
- Reported price band: Rs 1,065 to Rs 1,119 per share.
- Reported issue size: about Rs 28,755 crore at the lower end and Rs 30,213 crore at the upper end.
- Reported timetable: anchor book on 19 October, public issue from 21 to 23 October, listing expected on 28 October 2026.
- Valuation: up to about Rs 10.3 trillion, or roughly US$107 billion, at the top of the band, according to the report.
- Structure: under the draft papers, the issue is entirely a fresh issue of up to 27 crore new shares, with no offer for sale by existing investors.
- Reliance Industries holds 66.43 per cent of Jio Platforms before the issue; the new shares would equal about 2.93 per cent of the enlarged equity.
- The company filed its draft prospectus with SEBI on 19 June 2026 and received the regulator's final approval on 28 August 2026.
Why It Matters
Jio's listing has been one of the most closely watched events in Indian markets. An issue of about Rs 30,000 crore would be larger than any previous Indian IPO, including the offer by Hyundai Motor India that it would overtake, and at a valuation of up to about US$107 billion the company would start trading as one of the biggest names on the exchanges.
Because the issue is made up only of new shares, the money raised goes to the company itself rather than to existing shareholders. Reliance, along with large investors such as Meta and Google, is not selling any of its holding in this offer. That is different from many recent big Indian IPOs, where early investors used the listing to sell part of their stakes.
For ordinary investors, the issue will be a test of how much retail and institutional money Indian markets can absorb in a single offer. Very large IPOs can draw funds away from other shares in the days around bidding. Investors should also note that the small share of equity on offer, under 3 per cent, means only a limited portion of the company will trade freely at first. Grey market premiums being quoted on some websites are unofficial and unregulated, and they are not a reliable guide to the listing price.
| Item | Reported detail |
|---|---|
| Price band | Rs 1,065 to Rs 1,119 per share |
| Issue size at top of band | About Rs 30,213 crore |
| Public issue dates | 21 to 23 October 2026 |
| Expected listing | 28 October 2026 |
| Type of issue | Fresh shares only, no offer for sale |
Impact
Short-term: Brokers, banks and mutual funds will prepare for heavy bidding, and Reliance Industries shares may react to news on the issue. Market liquidity could tighten around the bidding dates.
Long-term: A successful listing would give Jio its own market value and access to public capital for network, cloud and digital investments, and would deepen India's equity market with a very large new stock.
Who is affected: Retail and institutional investors, Reliance Industries shareholders, Jio's existing investors, competing telecom companies and the wider Indian IPO market.
Key Takeaway
Jio Platforms is reported to have set a Rs 1,065 to Rs 1,119 price band for an IPO of up to about Rs 30,213 crore opening on 21 October 2026, which would be India's largest ever, though the terms await official confirmation.
Questions and Answers
What is the Jio Platforms IPO price band?
According to a Bloomberg report on 9 October 2026, the band is Rs 1,065 to Rs 1,119 per share. The company has yet to confirm it in its final prospectus.
When can investors apply for the Jio IPO?
The reported schedule is 21 to 23 October 2026 for the public, with the anchor book on 19 October and listing expected on 28 October.
Is Reliance selling its stake in Jio through the IPO?
No. Under the draft papers, the IPO is made up only of new shares. Reliance and other existing investors are not selling shares in this offer.
Why is the Jio IPO significant?
At about Rs 30,213 crore at the top of the band, it would be the largest IPO in Indian history and value the company at up to about US$107 billion.
Sourced and fact-checked by the Peepals Global Editorial Team
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Reported, fact-checked and published by the Peepals Global Editorial Team.
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