Jio Platforms Sets IPO Price Band at Rs 1,065-1,119, Targets Rs 30,213 Cr
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Khushi Jain
- October 14, 2026
Telecom giant Jio Platforms has set a price band of Rs 1,065 to Rs 1,119 per share for its initial public offering (IPO), which is scheduled to open for public subscription next week.
At the upper end of the price band, the company aims to raise Rs 30,213 Cr, surpassing Hyundai Motor’s Rs 27,870 Cr IPO in 2024 to become the largest public offering to date in the Indian equities market.
The IPO values Reliance Industries Limited’s (RIL) telecom arm at Rs 10.3 Lakh Cr at the upper end of the price band.
Jio Platforms filed its red herring prospectus (RHP) for the IPO earlier today. The offering comprises a fresh issue of up to 27 Cr equity shares.
Following anchor bidding on October 19, the IPO will open for public subscription on October 21 and close on October 23.
Employee and RIL Shareholder Reservations
Jio Platforms has reserved shares worth Rs 500 Cr for eligible employees, who can avail of a discount of Rs 54 per share.
Additionally, shares worth up to Rs 2,500 Cr will be reserved for eligible shareholders of RIL.
IPO Proceeds to Repay Borrowings
The company intends to use Rs 27,500 Cr of the fresh capital raised through the IPO to prepay, either fully or partially, certain outstanding borrowings taken by its material subsidiary, Reliance Jio Infocomm (RJIL).
The remaining Rs 2,713 Cr will be allocated for general corporate purposes. These funds may be used for strategic initiatives, growth opportunities, capital expenditure, working capital, marketing and other business requirements.
No Offer for Sale Component
The IPO does not include an offer for sale (OFS), meaning existing shareholders will not sell their shares through the offering.
RIL currently holds a 66.43% stake in Jio Platforms, while Meta and Google own 9.98% and 7.73%, respectively.
FAQs
1. What is the price band for the Jio Platforms IPO?
Jio Platforms has set a price band of Rs 1,065 to Rs 1,119 per share.
2. How much does Jio Platforms aim to raise through its IPO?
The company aims to raise Rs 30,213 Cr at the upper end of the price band.
3. When will the Jio Platforms IPO open and close?
The IPO will open for public subscription on October 21 and close on October 23, following anchor bidding on October 19.
4. How will Jio Platforms use the IPO proceeds?
The company plans to use Rs 27,500 Cr to prepay certain borrowings of Reliance Jio Infocomm. The remaining Rs 2,713 Cr will be used for general corporate purposes.
5. Who are the major shareholders of Jio Platforms?
RIL holds a 66.43% stake in Jio Platforms, while Meta and Google own 9.98% and 7.73%, respectively.
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