Jio Platforms IPO to open October 21 with a price band of Rs 1,065 to Rs 1,119 a share
Jio Platforms opens its IPO on October 21 with only fresh shares, aiming for about Rs 30,213 crore at the top price, a record for India.
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what happened
Jio Platforms, the digital and telecom unit of Reliance Industries, will open its initial public offering for subscription on Wednesday, October 21, according to Moody's. The offer closes on Friday, October 23. The price band is set between Rs 1,065 and Rs 1,119 per share.
The deal consists solely of newly issued shares, and existing shareholders are not selling in it. At the top of the range, the issue could raise roughly Rs 30,213 crore, above the Rs 27,870 crore raised by Hyundai Motor India in 2024 and making it the biggest IPO in India so far. Employees bidding in the reserved portion will get a discount of Rs 54 per share, and the minimum lot is 12 shares. Anchor investor bidding is scheduled for Monday, October 19.
why it matters
A listing of this size would add a major new stock to the Indian market and widen investor access to digital and telecom assets. Reports cite commitments of around Rs 2.5 lakh crore from global and domestic institutions, including LIC and several mutual funds, pointing to strong demand. A deal of this scale could also temporarily draw liquidity away from other Indian shares.
market impact
Indian equities: a record IPO may absorb liquidity, while its valuation sets a benchmark for Reliance Industries
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instruments
sources
- Reliance Jio IPO: 'Salute Mukesh Ambani' - Ace investor Manish Chokhani on '500 mn customers, $100 bn valuation — Moody's, 19 October 2026 at 16:02 UTC
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