News19 October 2026By BlinkMoney Editorial

Jio Platforms IPO opens 21–23 Oct, price band ₹1,065–1,119

Jio Platforms' red herring prospectus and a Reliance exchange disclosure set the IPO price band at ₹1,065–1,119 a share, with public bidding from 21 to 23 October and a fresh issue of up to 27 crore shares worth about ₹30,213 crore at the cap price.

Jio Platforms Limited's initial public offer (IPO) opens for public bidding on Wednesday, 21 October 2026, and closes on Friday, 23 October, at a price band of ₹1,065 to ₹1,119 a share. Reliance Industries disclosed the band to BSE and NSE on 14 October, after the IPO committee of Jio Platforms' board approved it. The minimum application is 12 shares, or ₹13,428 at the cap price. The issue is entirely fresh shares, so the proceeds go to the company and none to selling shareholders.

This is the follow-up to the 7 October report, when Jio had received the Securities and Exchange Board of India (SEBI) observation letter but had not announced dates or a price band. The figures below are as of the reporting cutoff of 23:30 IST on 19 October 2026.

What the filings set, and what they replace

The filed band is lower than the range press reports had been citing. On 6 October, The Economic Times reported, citing people familiar with the matter, an expected band of ₹1,150–1,220 a share and an issue of about ₹37,700 crore. Neither figure appears in the red herring prospectus (RHP) or the exchange disclosure, and both are superseded.

The RHP, dated 14 October 2026, offers up to 270,000,000 new equity shares of ₹10 face value. It leaves the rupee amount as a placeholder until pricing. Multiplying the share count by the band gives ₹28,755 crore at the floor price of ₹1,065 and ₹30,213 crore at the cap of ₹1,119. Press reports of the issue size use the cap figure. The rupee totals here are calculated from the share count, not stated in the RHP.

At the cap price, the post-issue share count of 9,209,030,830 implies a market value of about ₹10.3 lakh crore. The pre-issue count of 8,939,030,830 shares is in the RHP; adding the 270 million new shares gives the post-issue figure. The market value is a calculation, not a valuation the company has stated.

Who can bid

Anchor investors bid on Monday, 19 October. Public bidding runs from 21 to 23 October. Non-anchor bids go through the Application Supported by Blocked Amount (ASBA) process, and UPI mandates end at 7 pm on 23 October. Bid money stays blocked in the bidder's account until allotment is finalised and unsuccessful amounts are released.

The RHP splits the net issue as follows: not more than 50% for qualified institutional buyers (QIBs), not less than 15% for non-institutional investors and not less than 35% for retail investors. Within the issue, up to ₹500 crore is reserved for eligible employees, who get a ₹54 a share discount under the employee portion. Up to ₹2,500 crore is reserved for individuals and Hindu Undivided Families that held Reliance Industries shares on 14 October, according to PTI's report on the RHP.

If the price band is revised, the RHP allows the bidding period to be extended by at least three working days, up to a maximum of 10 working days. The RHP allocates some categories, including qualified institutional buyers and the reserved portions, on a proportionate basis, so an applicant may receive fewer shares than bid for.

Timetable: reported, not confirmed

The RHP's indicative timetable puts the basis of allotment on or about Monday, 26 October, refunds and unblocking of ASBA funds on or about Tuesday, 27 October, and share credit to demat accounts on or about 27 October. It gives commencement of trading on or about Wednesday, 28 October.

The 14 October exchange disclosure confirms only the price band, the employee discount and the bid lot. It does not confirm the 28 October trading date. Treat the listing date as reported and expected until BSE or NSE announces it. A revised price band could extend the bidding period and move the later dates.

Profit, valuation and the grey market

The RHP gives FY26 revenue from operations of ₹1,46,885 crore on a restated consolidated basis. Profit after tax was ₹30,053 crore before a small share of losses from an associate and joint venture, and ₹30,049 crore for the year after it. Press reports quote one or the other; both come from the RHP.

At the cap price, the implied market value of about ₹10.3 lakh crore is roughly 34 times FY26 profit, a calculation from the filed figures. A listing price above the issue price would reflect what buyers pay in secondary trading. It would not change the company's reported profit. The RHP says the band "should not be considered to be indicative" of the price after listing.

The Economic Times reported on 19 October that the unofficial grey market premium was ₹251 a share, or 22.4% above the cap. Grey market premiums are not official, can change before listing, and do not set the listing price.

What the money is for

The objects of the issue are to prepay certain borrowings of Reliance Jio Infocomm Limited (RJIL), Jio's material subsidiary and telecom operator, and to meet general corporate purposes. Press reports of the RHP put the amount earmarked for prepayment at up to ₹27,500 crore, with the balance for general corporate purposes. The effect on profit depends on the interest rates on the debt repaid, which this article has not verified.

What remains uncertain

The final issue price, the share count in each category and the employee and shareholder allocations are set after pricing. The issue price will fall within the band.
The RHP states that the issue has not been recommended or approved by SEBI, and that its risk factors apply.
The 28 October trading date is reported from the RHP's indicative timetable. It is not confirmed by the exchange disclosure.

For an investor, the RHP's risk factors, the final price and the allotment matter more than the grey market figure or the headline size. This article is general information, not investment advice.

Sources and links

Source: Original source