Jio Platforms IPO Sets Rs 1,119 Upper Price Band

The short version

• Jio Platforms has set its IPO price band at Rs 1,065 to Rs 1,119 per share.
• The issue could raise Rs 30,213 crore, exceeding Hyundai Motor India's 2024 IPO.
• Retail applicants need Rs 13,428 for one lot of 12 shares at the upper price.

Jio Platforms has fixed the price band for its initial public offering (IPO), with the issue scheduled to open for subscription on October 21, 2026. At the upper end of Rs 1,119 per share, the offering is expected to raise around Rs 30,213 crore.

The proposed issue would become India's largest IPO by funds raised if it achieves that amount. Hyundai Motor India's IPO, which raised approximately Rs 27,870 crore in 2024, currently provides the comparison cited in the announcement.

Jio Platforms' IPO will close on October 23, 2026. Bidding by anchor investors is scheduled for October 19, two days before the public subscription period begins.

Jio Platforms IPO dates and price band

The IPO Committee of Jio Platforms' Board of Directors approved the price band at a meeting held on Wednesday, October 14, 2026. Investors can bid within the announced range, subject to the applicable issue terms.

IPO detail	Information
Company	Jio Platforms Ltd
Price band	Rs 1,065 to Rs 1,119 per share
IPO opening date	October 21, 2026
IPO closing date	October 23, 2026
Anchor investor bidding	October 19, 2026
Expected issue size at upper band	Around Rs 30,213 crore
Fresh equity shares	Up to 27 crore
Face value per share	Rs 10
Minimum bid lot	12 shares

The issue is structured entirely as a fresh share sale of up to 27 crore equity shares. There is no offer for sale (OFS), so existing shareholders will not sell their shares through this offering. Proceeds from a fresh issue go to the issuing company, subject to the stated terms, whereas an OFS allows existing shareholders to sell their holdings.

What investors need to apply for one lot

The minimum application size is 12 equity shares, and further bids must be placed in multiples of 12. At the upper end of the price band, one lot costs Rs 13,428. Applicants bidding at the lower end will need less money for the same number of shares.

The maximum investment amount specified in the supplied issue details is Rs 1,61,136. The employee reservation also comes with a discount of Rs 54 per share for eligible employees bidding under that category.

Application detail	Amount or quantity
Minimum lot size	12 shares
Face value per share	Rs 10
Cost of one lot at Rs 1,065	Rs 12,780
Cost of one lot at Rs 1,119	Rs 13,428
Maximum investment amount specified	Rs 1,61,136
Employee discount per share	Rs 54

The employee discount reduces the effective price for eligible applicants by Rs 54 per share, subject to the issue terms. The announced price band applies to the public issue, while the employee reservation has its own discount provision.

For applicants planning their funding, the amount needed depends on the bid price and the number of shares applied for. Investors should also check the final offer documents for category specific conditions and application limits.

Jio Platforms IPO reservation for employees and Reliance shareholders

Jio Platforms has set aside shares worth up to Rs 500 crore for eligible employees. A separate reservation worth up to Rs 2,500 crore is available for eligible shareholders of Reliance Industries.

Eligibility for the Reliance Industries shareholder reservation is based on holdings as of October 14, 2026, the date the Red Herring Prospectus was filed. Eligible holders include individuals and Hindu Undivided Families (HUFs), either directly or through the HUF's karta, who held Reliance Industries' public equity shares on that date.

The reservation remains subject to applicable laws and the conditions set out in the prospectus. Holding Reliance Industries shares does not by itself remove the need to meet the specified eligibility requirements or follow the application process.

The reservation categories are separate from the overall fresh issue. Their final allocation and the conditions for applying should be checked against the offer documents.

How Jio Platforms plans to raise the money

The proposed Rs 30,213 crore issue size is based on the upper end of the price band. The final amount raised will depend on the issue price and the number of shares issued within the approved terms.

The company has appointed 19 banks to manage the share sale. The named book running lead managers include Kotak Mahindra Capital Company, Morgan Stanley, Bank of America, Axis Capital, BNP Paribas and Citigroup.

Jio Platforms' existing investors include Meta Platforms, Alphabet, Mubadala and Saudi Arabia's Public Investment Fund, as described in the draft prospectus. Since the IPO has no OFS component, the stated structure does not provide for these existing investors to sell shares as part of this issue.

Readers looking for the broader background can refer to WeloMoney's earlier coverage of the Jio Platforms IPO issue size and business model. The company's fundraising plans and listing schedule have also been covered in the earlier Jio Platforms IPO valuation and listing timeline.

How Jio Platforms compares with India's largest IPO

At the expected upper band issue size of Rs 30,213 crore, Jio Platforms would exceed the Rs 27,870 crore raised by Hyundai Motor India in 2024. The difference between the two amounts is approximately Rs 2,343 crore.

IPO	Amount raised or expected
Jio Platforms	Around Rs 30,213 crore at the upper price band
Hyundai Motor India, 2024	Approximately Rs 27,870 crore
Difference	Approximately Rs 2,343 crore

The comparison is based on the expected size of Jio Platforms' offering, not a confirmed final fundraising figure. The issue's eventual proceeds will depend on its final pricing and completion.

IPO size also does not determine how a stock will trade after listing. The offer price, demand from different investor categories and the company's financial performance are separate factors that investors may assess.

What investors should watch before the IPO closes

The immediate dates to track are the anchor investor bidding on October 19 and the public subscription period from October 21 to October 23, 2026. Investors can use the final offer documents to confirm the price, reservation conditions and application rules before submitting bids.

Other details to follow include the final issue price, subscription figures across investor categories and the allotment and listing schedule when officially confirmed. The supplied information does not specify the final listing date, so it should not be assumed from the subscription dates alone.

The distinction between the public issue and reserved categories also matters. Eligible employees receive the stated discount, while the Reliance Industries shareholder reservation depends on the prescribed shareholding date and eligibility conditions.

About Jio Platforms

Jio Platforms Ltd is the digital services arm of Reliance Industries. Its investor base includes Meta Platforms, Alphabet, Mubadala and Saudi Arabia's Public Investment Fund, as identified in the draft prospectus.

The IPO will raise funds through a fresh issue of up to 27 crore shares. The final issue price and the results of the subscription period will determine the completed offering's outcome.

Frequently asked questions

What is the Jio Platforms IPO price band?

The Jio Platforms IPO price band is Rs 1,065 to Rs 1,119 per equity share. The IPO Committee approved the range on October 14, 2026.

When will the Jio Platforms IPO open and close?

The Jio Platforms IPO is scheduled to open on October 21 and close on October 23, 2026. Anchor investor bidding is scheduled for October 19, 2026.

What is the minimum investment for the Jio Platforms IPO?

The minimum investment at the upper price band is Rs 13,428 for 12 shares. At the lower price of Rs 1,065 per share, the same lot costs Rs 12,780.

How much could Jio Platforms raise through its IPO?

Jio Platforms is expected to raise around Rs 30,213 crore at the upper price band of Rs 1,119 per share. The proposed issue is a fresh sale of up to 27 crore equity shares without an offer for sale component.

Is there a shareholder quota in the Jio Platforms IPO?

Yes. Jio Platforms has reserved shares worth up to Rs 2,500 crore for eligible Reliance Industries shareholders. Eligibility is based on holding the company's public equity shares as of October 14, 2026, subject to the prospectus conditions.

What discount is available to employees in the Jio Platforms IPO?

Eligible employees bidding under the employee reservation portion will receive a discount of Rs 54 per share. The issue also reserves shares worth up to Rs 500 crore for eligible employees.