The Jio Platforms IPO opened for public subscription on October 21, 2026, converting an earlier reported timetable into India’s largest public share sale. The offer is seeking up to ₹30,213 crore—about $3.2 billion—at a price band of ₹1,065 to ₹1,119 per share.
Public bidding runs through October 23, while the shares are scheduled to begin trading on the BSE and NSE on October 28. The final offer is smaller than preliminary reports that had placed fundraising closer to $4 billion, illustrating why investors needed to wait for the formal prospectus and exchange filings.
Jio Platforms IPO price band and offer size
Jio is offering 270 million newly issued shares. At the top of the price band, the offer values the telecom, cloud and digital-services company at approximately $108.3 billion, according to Reuters.
The official price-band filing confirms a floor price of ₹1,065 and a cap price of ₹1,119 per equity share. The offer is Reliance Industries’ first public share sale in roughly two decades and is expected to surpass Hyundai Motor India’s 2024 IPO as the country’s largest.
Retail investors have been allocated 35% of the public offer. The issue also includes reservations for eligible Reliance Industries shareholders and Jio employees under the terms described in the prospectus and offer notices.
Anchor investors commit more than ₹81 billion
Before the public subscription opened, Jio allocated shares worth more than ₹81 billion—about $853 million—to 212 anchor investors. Reuters reported that participating institutions included BlackRock, Fidelity and the Abu Dhabi Investment Authority.
Strong anchor demand provides evidence of institutional interest, but it does not guarantee either full public subscription or gains after listing. Anchor allocations are made before retail bidding and remain subject to applicable lock-in rules.
How Jio plans to use the proceeds
Jio Platforms combines India’s largest mobile network with broadband, cloud, artificial-intelligence and other digital businesses. It has more than 500 million telecom subscribers, with the network contributing most of the group’s business.
A significant part of the fresh-issue proceeds is intended to repay borrowings at telecom subsidiary Reliance Jio Infocomm. The remaining funds may be used for general corporate purposes under the terms of the prospectus.
For the financial year ending March 2026, Jio reported roughly $15.5 billion in revenue and $3.2 billion in profit, Reuters said. Those figures help explain the offer’s scale, but investors must also consider risks cited in the prospectus, including competition, capital requirements and changing telecom and data-protection regulation.
What investors should check before applying
The price band and opening date are now confirmed, unlike the source-based projections discussed in the earlier version of this article. Investors should still read the red herring prospectus, examine valuation and business risks, and avoid treating grey-market premiums or anchor participation as assured listing returns.
The offer closes on October 23, followed by allotment procedures and the planned October 28 market debut. The actual listing price will depend on demand, final allocation and market conditions.
This article provides news and factual context, not a recommendation to subscribe, buy or sell securities.
