Jio Platforms IPO | Hyderabad, Oct 20: Jio Platforms Ltd, the Reliance Industries unit, opens its first public issue on Wednesday, October 21. Subscription runs until October 23, according to the company. Analysts expect it to be India’s largest public issue.
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The company aims to raise about ₹30,000 crore. The price band is ₹1,065 to ₹1,119 per share. At the upper end, it could raise ₹30,213 crore and value Jio Platforms at about ₹10.3 lakh crore.
The anchor book of ₹8,110 crore drew bids of more than ₹2.5 lakh crore, over 30 times its size. LIC, BlackRock, Fidelity, GIC and leading Indian mutual funds are among the main anchor investors. Shares will list on the stock exchanges on October 28.
Jio Platforms IPO: lot size, reservations and use of funds
The lot size is 12 shares. The minimum retail investment at the upper price band is ₹13,428. The company has reserved shares worth ₹500 crore for JPL employees and ₹2,500 crore for Reliance Industries shareholders.
The issue is entirely a fresh issue of 27 crore shares. The company plans to use up to ₹27,500 crore of the net proceeds to repay or prepay debt at its telecom subsidiary, Reliance Jio Infocomm Ltd. It has earmarked the rest for general corporate purposes and other permitted needs.
Jio began commercial operations in 2016 and changed the telecom sector by offering cheap mobile data. It has since expanded into home broadband, digital entertainment, enterprise services, cloud and artificial intelligence. IPO-related reports say the telecom business had about 53.3 crore subscribers by June 2026 and carries nearly 60 per cent of India’s mobile data traffic. Partnerships with global firms such as Meta and Google have added weight to its digital business.
The IPO gives public market investors direct exposure to Reliance’s telecom and digital business.
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