Why is Jio Platforms IPO trending today?
The IPO opened on Oct 21 after filing a red‑herring prospectus on Oct 14, offering up to 27 crore new shares at a price band of Rs 1,065‑1,119. Its size—potentially over Rs 30,000 crore—makes it the largest fresh‑issue IPO in India, driving intense public and media interest.
What happened
- Oct 14, 2026
Jio Platforms filed its red‑herring prospectus for a fresh‑issue IPO of up to 27 crore shares, setting a price band of Rs 1,065‑1,119 per share [1]
- Oct 21, 2026
Subscription opened for the IPO, scheduled to close on Oct 23; anchor bidding set for Oct 19 [1]
What you need to know
The issue is a pure fresh issue, so proceeds will go to Jio Platforms, not to selling shareholders.
Around 77% of Jio’s FY26 revenue comes from prepaid services sold through Reliance Retail.
Reliance holds about 66% of Jio Platforms before the IPO; Meta and Google together hold roughly 18%.
Proceeds are earmarked to pre‑pay borrowings of Reliance Jio Infocomm and for general corporate purposes.
Exact final subscription levels and whether the IPO will surpass the projected Rs 10 lakh crore valuation remain to be confirmed after the closing date.
Background
Jio Platforms, the digital and telecom arm of Reliance Industries, reported FY26 revenue of Rs 1,46,885 crore and net profit of Rs 30,049 crore, with an EBITDA margin of 51.9% and over 524 million subscribers. Its borrowings fell slightly to Rs 70,781 crore, while return on capital employed slipped to 10.76% [1].
The IPO will issue up to 27 crore equity shares at a face value of Rs 10, with a lot size of 12 shares costing Rs 13,428 at the cap price. Reserved portions include up to Rs 500 crore for employees and Rs 2,500 crore for eligible Reliance shareholders [1].
If fully subscribed at the top of the band, the issue could raise about Rs 30,213 crore, surpassing previous large IPOs such as Hyundai Motor India (Rs 27,858.75 crore) and LIC (Rs 20,557.23 crore) [1].
Questions people ask
When does the Jio Platforms IPO close?
Subscription closes on Friday, Oct 23, 2026, after anchor bidding on Oct 19.
What will the IPO proceeds be used for?
Proceeds are planned to pre‑pay borrowings of Reliance Jio Infocomm and for general corporate purposes.
How large is the IPO compared to past Indian listings?
At the top of the price band, the IPO could raise over Rs 30,000 crore, making it larger than the previous record‑holding Hyundai Motor India IPO.
Where this came from
Found through Google Trends and drafted with AI from at least two cited sources. Published automatically after passing our automated checks for sources, wording and safety. It may not have been reviewed by a person yet. Report a correction.