Jio Platforms has set a price band of Rs 1,065-1,119 per share. Investors can apply for a minimum of 12 shares and in multiples of 12 thereafter. The company plans to raise Rs 30,213 crore through a fresh issue of 27 crore equity shares, making it India's largest primary offering.
The company has reserved shares worth Rs 2,500 crore for eligible RIL shareholders and Rs 500 crore for eligible employees. Employees will receive a discount of Rs 54 per share. Of the net offer, 50 per cent has been reserved for QIBs, 15 per cent for non-institutional investors and 10 per cent for retail investors.
Incorporated in 2019, Mumbai-based Jio Platforms is a technology company focused on digital connectivity, digital services and technology-led solutions. It has developed proprietary digital technologies and pan-India connectivity infrastructure to provide digital services to consumers and businesses.
The IPO's grey market premium rose to Rs 270-280 per share from about Rs 250 before bidding began. The latest premium indicated a potential listing gain of 25 per cent, despite mixed market sentiment.
Most brokerages have a positive view of the issue, citing Jio Platforms' market leadership, potential ARPU growth and tariff increases, expansion in 5G and broadband, attractive valuations, strong cash flows and scope to reduce debt after the IPO. Key concerns include dependence on ARPU growth and tariff increases, regulatory uncertainty, high capital expenditure requirements and competitive pressure.
Jio Platforms reported a net profit of Rs 7,764.10 crore on revenue of Rs 40,197.90 crore for the quarter ended June 30, 2026. For FY26, it posted a net profit of Rs 30,052.70 crore and revenue of Rs 1,49,759.10 crore. At the upper end of the price band, the company's market capitalisation is estimated at about Rs 10.30 lakh crore.
The Rs 30,213-crore IPO was subscribed more than twice by the afternoon of its opening day, with strong demand from institutional buyers, eligible RIL shareholders and employees, while the retail and non-institutional portions remained below full subscription.
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