Jio Platforms Ltd, the digital services arm of Reliance Industries, has announced the price band for its much-awaited initial public offering (IPO), which is set to open next week.
The IPO Committee of the Board of Directors of Jio Platforms approved the price band between 1,065– ₹1,119 per equity share at a meeting held on Wednesday, October 14.
At the upper end of the price band of ₹1,119 per share, Jio Platforms’ IPO is expected to raise around ₹30,213 crore, making it the biggest IPO in India’s stock market history.
The country’s largest IPO to date was that of Hyundai Motor India, which raised approximately ₹27,870 crore in 2024.
Eligible employees bidding under the Employee Reservation Portion will receive a discount of ₹54 per equity share. The minimum bid lot has been fixed at 12 equity shares, each with a face value of ₹10, with bids to be made in multiples of 12 shares thereafter.
Issue to open on October 21
The mega IPO will open for subscription on Wednesday, October 21, and close on Friday, October 23, 2026. The anchor investor bidding is scheduled for Monday, October 19.
The issue is entirely a fresh issue of up to 27 crore equity shares, with no offer-for-sale (OFS) component, meaning existing investors will not sell their shares through the IPO. Jio Platforms’ investors include Meta Platforms Inc., Alphabet Inc., Mubadala and Saudi Arabia’s Public Investment Fund, according to the draft prospectus.
Jio Platforms has appointed 19 banks to manage the share sale, including Kotak Mahindra Capital Co., Morgan Stanley, Bank of America Corp., Axis Capital Ltd., BNP Paribas SA and Citigroup Inc.
Employee reservations
The issue includes a reservation of equity shares worth up to ₹500 crore for eligible employees. It also provides for a reservation of shares worth up to ₹2,500 crore for eligible shareholders of Reliance Industries.
Eligible Reliance Industries shareholders include individuals and Hindu Undivided Families (HUFs), either directly or through the karta, who held the company’s public equity shares as of October 14, 2026, the date of filing of the Red Herring Prospectus (RHP). The reservation is subject to applicable laws and the eligibility conditions detailed in the prospectus.
Minimum lot was set at 12 shares
The minimum bid lot has been fixed at 12 equity shares, each with a face value of ₹10, with bids to be made in multiples of 12 shares thereafter. At the upper end of the price band, an investor will need to invest a minimum of ₹13,428 to apply for one lot.
The maximum investment amount would be ₹1,61,136.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
