Jio Platforms opened its anchor book on Monday, October 19, two days before its ₹30,213 crore IPO opens to the public. It is the largest share sale ever attempted in India. Shares are priced between ₹1,065 and ₹1,119, and the grey market premium stands at about ₹250, roughly 22% above the upper end of the band.
Jio IPO At A Glance
- IPO opens: Wednesday, October 21, 2026
- IPO closes: Friday, October 23, 2026
- Anchor book: Monday, October 19, with allocation details due later today
- Market holiday: Tuesday, October 20, for Dussehra
- Tentative listing: Wednesday, October 28, 2026, on NSE and BSE
- Price band: ₹1,065 to ₹1,119 per share
- Lot size: 12 shares, a minimum retail bid of ₹13,428 at the upper band
- Issue size: ₹30,213 crore, entirely fresh issue of 27,00,00,000 shares
- Face value: ₹10 per share
- Offer for sale: None. Reliance Industries is not selling any shares.
Jio IPO GMP Today
Jio Platforms shares were last quoted at ₹250 above the issue price in the grey market, suggesting a listing price near ₹1,369 at the upper band.
The premium has risen steadily:
- Before the price band was announced: ₹190 to ₹200
- Last week: ₹220 to ₹235
- October 19: about ₹250
The grey market is unofficial and unregulated, and its premiums can change sharply before listing.
Why Is Jio Platforms Raising ₹30,213 Crore?
The issue is mainly about cutting debt. Of the proceeds, ₹27,500 crore will repay, in full or in part, borrowings of Reliance Jio Infocomm Limited (RJIL), Jio’s main operating subsidiary. Most of those borrowings are external commercial borrowings. The remaining amount, capped at 25% of gross proceeds, is set aside for general corporate purposes.
How Big Is Jio Platforms?
Reliance Industries promoted Jio Platforms, which was incorporated in Ahmedabad on November 15, 2019. Meta and Google are strategic shareholders. According to its offer document:
- Customers: 53.33 crore, including 28.49 crore on 5G
- Share of wireless data: about 60% of all wireless data traffic in India
- Network: 3,60,537 towers and over 10 lakh route kilometres of fibre
- Retail reach: 1,059 Jio Centres and 6,322 Jio Points
- Data traffic: up from 148.5 billion GB in FY24 to 241.4 billion GB in FY26
- FY26 operating cash flow: ₹77,556.30 crore
- Net leverage: down from 0.88x in FY24 to 0.36x in FY26
The company says its arrival has cut mobile data prices by about 97%, from ₹228 per GB to roughly ₹8. Average monthly data use per user has grown from under 0.5 GB in early 2016 to about 26 GB today.
Jio also owns stakes in more than 15 companies, including JioSaavn, Embibe, Haptik and Reverie.
What Are Brokerages Saying About The Jio IPO?
Chola Securities, KC Securities, SMC Global, Arihant Capital Markets, Emkay Global, Swastika Investmart and Ventura Securities have all published positive notes on the issue.
- Chola Securities said the issue values Jio at 32 times estimated FY27 earnings, a 12% to 15% discount to its nearest listed peer.
- KC Securities said revenue grew 15.8% a year and EBITDA 17.8% a year between FY24 and FY26, with an EBITDA margin of 51.91%.
- Deven Choksey, Managing Director of DR Choksey FinServ, put the implied market value at about ₹10 lakh crore. His own estimate of fair value is ₹12 lakh crore.
- ICICIDirect Research said Jio’s 49.8% share of mobile broadband and 43.3% share of fixed broadband, but did not assign a rating.
Jio IPO FAQs
When does the Jio IPO open?
The Jio Platforms IPO opens on Wednesday, October 21, 2026, and closes on Friday, October 23, 2026.
What is the Jio IPO price band?
The price band is ₹1,065 to ₹1,119 per share.
What is the Jio IPO lot size?
One lot is 12 shares. At the upper price band, a retail investor needs at least ₹13,428.
What is the Jio IPO GMP today?
The grey market premium is about ₹250 per share as of October 19, around 22% above the upper price band.
When will Jio shares list?
Listing on NSE and BSE is tentatively set for Wednesday, October 28, 2026.
Is Reliance selling shares in the Jio IPO?
No. The issue is entirely new shares, with no offer for sale by existing shareholders.
Why is the IPO not open on October 20?
Indian stock markets are closed on Tuesday, October 20, for Dussehra.
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