- Jio Platforms launched India’s largest IPO, raising Rs 30,213 crore.
- Proceeds target debt repayment and future network expansion.
- Reliance Group’s first major public offering in decades.
Jio Platforms threw open the doors to India’s biggest-ever initial public offering on Wednesday, with the company looking to raise up to Rs 30,213 crore through the share sale. At the top of the price band, the issue could value the business at around $108.3 billion.
Bidding began at 10 AM on October 21 and will close on October 23. Global investors have already shown their hand: Jio Platforms raised around Rs 8,110 crore from anchor investors before the public offer opened.
Jio IPO price band
For retail investors, the arithmetic is simple. The price band is Rs 1,065 to Rs 1,119 per share, and the minimum application is for 12 shares. That works out to Rs 12,780 at the lower end of the band and Rs 13,428 at the upper end. Those bidding for more must do so in the prescribed lot multiples.
The issue also sets aside up to Rs 2,500 crore for eligible Reliance Industries shareholders and up to Rs 500 crore for eligible Jio Platforms employees. Employees will get a discount of Rs 54 per share on the final offer price, subject to the terms of the offer.
Jio’s Rs 30,213 Crore to Cut Debt
The offer is a fresh issue of up to 27 crore shares, which means the proceeds go to the company rather than to existing shareholders selling down their stakes, subject to the final outcome of the issue.
Most of the money is earmarked for repaying or prepaying borrowings of Reliance Jio Infocomm, the group’s telecom subsidiary, with the remainder set aside for general corporate purposes. Lower debt could reduce financing costs and give the business more room to invest in its network and digital operations. Reliance Industries will keep majority control of Jio Platforms after the IPO, though its stake will be diluted by the new shares.
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Reliance’s First Big IPO in 20 Years
The size of the issue is only part of why it is being watched. It is the Reliance Group’s first major public share offering in around two decades, and it gives investors a way into the business behind one of India’s largest digital and telecom networks.
Jio entered the telecom market in 2016 with low-cost data and free voice calls, changing how Indians use mobile internet and pushing established operators to respond. It has since widened its reach into home broadband, enterprise technology, digital services, cloud computing and artificial intelligence (AI), with global technology companies Meta and Google among its backers. According to Reuters, Jio Platforms had more than 500 million subscribers when the IPO was launched.
If the listing values the company at around Rs 10.3 lakh crore, the issue would also overtake Hyundai Motor India’s Rs 27,870-crore IPO of 2024 to become the country’s largest public offering by value.
Jio FY26: Profit Rs 30,049 Crore
The company’s financials improved in FY26. Revenue from operations rose to Rs 1.46 lakh crore from Rs 1.28 lakh crore in FY25, while net profit climbed to Rs 30,049 crore from Rs 26,109 crore. EBITDA stood at Rs 76,255 crore, up from Rs 64,170 crore a year earlier.
Those figures matter because buyers in a large IPO are paying for more than the company’s current size; they are also judging its ability to keep growing earnings. One detail worth noting is concentration: around 90 per cent of the company’s revenue and profit for the year ended March 2026 came from telecom. That makes subscriber monetisation, tariff changes and the cost of network investment especially important to the story.
Jio IPO GMP: Rs 245-273
The grey market premium (GMP) has become one of the most discussed aspects of the offer. Before the public issue opened, market trackers reported a premium of roughly Rs 245 to Rs 273 per share, though numbers differed across platforms and shifted with sentiment. These were unofficial quotes, not confirmed listing prices, reported NDTV.
At the upper price band of Rs 1,119, a premium of Rs 245 would point to an indicative price of Rs 1,364, about 21.9 per cent above the issue price. A premium of Rs 273 would imply Rs 1,392, or roughly 24.4 per cent higher. These are illustrations based on unofficial quotes only.
The grey market is an informal space where investors trade expectations of an IPO before its shares list on the exchanges. A high premium can hint at strong demand but does not guarantee gains on listing, so investors are advised against deciding on GMP alone.
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Six Risks Before You Bid on Jio
Despite Jio’s standing, the offer carries risks, particularly for those looking at the stock as a long-term holding rather than a quick listing trade:
Regulation: Telecom is a regulated sector, and changes to licensing requirements, spectrum costs or data rules could affect the business.
Competition: Jio faces established telecom operators as well as newer technology providers, including satellite broadband services.
Monetisation: A large subscriber base does not automatically mean high revenue per user, so Jio needs to keep improving what it earns from customers.
Technology spending: Network upgrades, AI infrastructure and other digital investments need capital, and returns may take time to come through.
Promoter control: Reliance Industries will retain majority ownership, so minority shareholders will need to assess governance and related-party risks.
Market volatility: Even a strongly subscribed IPO can list below expectations if market conditions weaken or investor demand shifts.
Jio IPO Allotment Oct 26
The issue closes on October 23. Allotment is expected on October 26, with shares tentatively set to list on the BSE and NSE on October 28.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: abplive.com
