Reliance Industries said the Jio Platforms IPO opens on Oct 21 and closes Oct 23, offering 27 crore shares at ₹1,065–₹1,119 per share.
At the upper band, the issue would net ₹30,213 crore, eclipsing Hyundai Motor India's ₹27,860 crore launch and setting a new Indian record.
With 921 crore shares outstanding after the offer, a ₹1,119 price would value Jio at ₹10.3 lakh crore, making it the fourth largest listed firm after RIL, Bharti Airtel and HDFC Bank.
Reliance holds 66.4% of Jio, while Google, Meta, KKR, ADIA and General Atlantic own the rest, and none of the existing shareholders will sell in the IPO.
Rs 500 crore of the shares are earmarked for employees and Rs 2,500 crore for RIL shareholders, with anchor investor bidding on Oct 19.
The grey‑market premium was ₹200 on Oct 21, up from ₹148 earlier in the month, hinting at strong demand ahead of the Oct 28 listing.