Jio Platforms sets IPO price band of Rs 1,065–1,119 per share, could be India's largest

what happened

Jio Platforms, the digital and telecom unit of Reliance Industries, plans an IPO priced between Rs 1,065 and Rs 1,119 per share. At the upper end, the offering could raise about Rs 30,213 crore, which would make it the largest IPO in India. The deal includes a fresh issue of up to 27 crore shares with a face value of Rs 10. Anchor investor bidding is set for October 19, and subscription runs from October 21 to 23, according to Reliance Industries' regulatory filings.

According to TradingView citing Mint, the grey market premium stands at Rs 235 over the issue price, implying a listing near Rs 1,354. The company reported 533.3 million customers at its subsidiary Reliance Jio Infocomm as of June 30, 2026, and revenue of Rs 1,46,885 crore in FY26. Anchor investors face lock-up terms: half of their allotted shares are locked for 30 days and the rest for 90 days.

why it matters

A deal of this size can shape sentiment in India's equity capital markets and expectations for the telecom sector. Investor appetite will depend on how Jio is valued against Bharti Airtel and Vodafone Idea, whose P/E ratios differ widely.

market impact

Indian equities: a large IPO may draw liquidity and shape valuations across the telecom sector

tags

instruments