Jio Platforms Limited, the satellite arm of Reliance Industries, announced a price band of ₹1,065 to ₹1,119 per equity share. The IPO Committee’s decision on Oct 14, 2026, follows a filing of the Red Herring Prospectus with the Gujarat Registrar of Companies on the same day. If the issue is priced at the top of the band, the company expects to raise about ₹30,213 crore.
That figure eclipses Hyundai Motor India’s ₹27,870 crore raise in 2024, putting Jio on track for India's largest IPO by issue size. Analysts note that the 8.4% higher target lifts the company above the 2024 record by 1.34 cr.
Subscription will open on Oct 21 and close on Oct 23. Anchor investors must bid on Oct 19. The minimum bid lot is 12 shares, and employees can buy under a ₹54‑per‑share discount.
The IPO reserves up to ₹500 crore for eligible employees and ₹2,500 crore for Reliance shareholders, including Hindu Undivided Families. These blocks are subject to eligibility criteria in the RHP.
Choksey Managing Director of DrChoksey FinServ estimates Jio’s fair value at ₹12 lakh crore against a ₹10 lakh crore market cap at IPO price, projecting 18–20% growth and a jump in EBITDA from ₹76,000 crore to ₹150,000 crore over five years.
If the issue hits the upper band, Jio could qualify for inclusion in major indices within six months and attract heavy institutional trading, according to market observers.