Jio Platforms sets 1,065–1,119 rupee IPO price band for India's largest listing
Reliance Industries unit Jio Platforms has set a price band of 1,065 to 1,119 rupees per share. Subscriptions open on October 21, 2026.
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what happened
Jio Platforms, the technology platform backed by Reliance Industries and billionaire Mukesh Ambani, has set a price band of 1,065 to 1,119 rupees per share for its offering. The company will issue 27 crore new shares worth 30,213 crore rupees, making it India's largest IPO ever, according to ru.tradingview.com, which cites Mint.
Subscriptions run from October 21 to 23, 2026. Allotment is expected on October 26, and listing on NSE and BSE is expected on October 28. A retail investor needs at least 13,428 rupees to apply for a lot of 12 shares. The grey market premium stood at 221 rupees over the upper price band at the time of publication, implying a listing gain of about 19.75%.
The company says its Reliance Jio Infocomm unit had 533.3 million customers as of June 30, 2026, and holds roughly 60% of wireless data traffic. Brokerage Kantilal Chhaganlal compared the FY2026 P/E of 33.3x at the upper band with Bharti Airtel's stated P/E of 40.71x.
why it matters
The size and structure of this deal matter for the broader market. An offering of this scale could shift capital within Indian equities and affect telecom stocks, including Bharti Airtel. The grey market premium reflects unofficial demand and is not a forecast of the listing price.
market impact
Reliance Industries, Bharti Airtel: a large share sale may draw capital from Indian telecom stocks
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