Jio IPO Details: The Reliance-Backed Rs 37,000 Crore Issue, Launch Date, Expected Price Band, Structure, Financials, Valuation, How to Apply and Full Details Before Bidding Opens

Jio IPO: Rs 37,000-37,800 cr (about $3.8 bn), up to 27 cr fresh shares. Reported 21-23 Oct, list 28 Oct. Price band awaited; RHP due week of 12 Oct.

Updated: 6 Oct 2026 • 12:19 pm

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Jio IPO Details: The Reliance-Backed Rs 37,000 Crore Issue, Launch Date, Expected Price Band, Structure, Financials, Valuation, How to Apply and Full Details Before Bidding Opens

Quick Answer

Jio IPO details point to a Rs 37,000 to Rs 37,800 crore issue, about $3.8 billion, made up entirely of a fresh issue of up to 27 crore shares of face value Rs 10, which would be India's largest IPO. The issue is reportedly set to open on 21 October and close on 23 October with listing on 28 October, the price band and lot size are not announced, and the red herring prospectus is expected in the week of 12 October. About Rs 27,500 crore of the proceeds will repay borrowings of Reliance Jio Infocomm, and the issue is about 2.9% of the post-issue equity, so Reliance Industries' stake would fall to about 64.5% from 66.4%. FY26 revenue was Rs 1,46,885 crore and profit Rs 30,049 crore, and valuation talk of $143 billion to $146 billion implies about 18 times EBITDA, my arithmetic, so the price band will decide how attractive the issue is.

Jio IPO details are now clearer than at any point since the June filing, with reports that the financial figures are being passed around among investors and that the offering could open on 21 October. Nothing is official until the red herring prospectus is filed, so every date and price here is reported.

If you want the full Jio IPO details before bidding opens, this article covers the Rs 37,000 crore issue size and the 27 crore fresh shares, the timeline to the 28 October listing, anchor and other reservation categories, the expected Jio IPO price band, the Reliance Industries stake, the financials and EBITDA, the Rs 27,500 crore debt repayment, how to apply with UPI, the grey market premium and the risks.

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Jio IPO Details at a Glance

Item	Detail
Issuer	Jio Platforms Limited, the digital and telecom arm of Reliance Industries
Issue size	About Rs 37,000 crore to Rs 37,800 crore, or $3.8 billion
Structure	100% fresh issue of up to 27 crore equity shares; no offer for sale
Face value	Rs 10 per share
Share of post-issue equity	About 2.9%
Promoter holding	Reliance Industries, 66.43% before and about 64.48% after the issue
Lead manager and registrar	Kotak Mahindra Capital Company and KFin Technologies
Jio IPO price band, lot size, minimum bid	Not announced

Dividing Rs 37,700 crore by 27 crore shares implies a price near Rs 1,396 per share, my back-of-envelope arithmetic, which is only a guide until the Jio IPO details are final and the price band is filed.

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Jio IPO Details: Timeline From DRHP to Listing

Step	Date	Status
DRHP filed with SEBI	19 June 2026	Done
SEBI final observations	28 August 2026	Done
Global roadshows in the US, UK, Dubai, Hong Kong and Singapore	September to early October	Completed
Red herring prospectus and India roadshow	Week of 12 October	Expected
Anchor book	About 19 October	Reported
IPO opens and closes	21 to 23 October	Reported, not official
Allotment	About 26 October	Tentative
Listing on BSE and NSE	28 October	Reported, subject to market conditions

The timeline in the Jio IPO details is reported by market sources and not announced by the company, so dates can shift if markets weaken.

Jio IPO Details: Reservation by Investor Category

Category	Share of the net issue	Notes
Qualified institutional buyers	Not more than 50%	Anchor investors are part of this portion
Non-institutional investors	Not less than 15%	Bids above Rs 2 lakh
Retail individual investors	Not less than 35%	Bids up to Rs 2 lakh
Eligible Reliance Industries shareholders	A separate reservation, size not disclosed	Bids up to Rs 2 lakh
Eligible employees	A separate reservation, size not disclosed	Bids up to Rs 5 lakh

Jio IPO Details: Financials and Valuation

Metric	FY26	Note
Revenue from operations	Rs 1,46,885 crore	Up 14.6% from Rs 1,28,218 crore
EBITDA	Rs 76,255 crore	Margin of 51.9%
Profit after tax	Rs 30,049 crore	Up 15.1% from Rs 26,109 crore
Subscribers	524.4 million	About 268.5 million on 5G
ARPU	Rs 214 in Q4 FY26	Rs 215.6 in Q1 FY27
Debt at Reliance Jio Infocomm	About Rs 71,529 crore	Rs 27,500 crore to be prepaid
Reported valuation	$143 billion to $146 billion enterprise value	At least Rs 12 trillion

At about Rs 13 lakh crore of implied equity value, from a 2.9% stake worth Rs 37,700 crore, the issue is about 43 times FY26 earnings, and the reported enterprise value is about 18 times EBITDA, both my calculations. These are valuation illustrations for the Jio IPO details and not the final price.

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Jio IPO Details: Use of Proceeds

Because the issue in the Jio IPO details is entirely fresh, the money goes to the company. Up to Rs 27,500 crore, about 38% of Reliance Jio Infocomm's borrowings, will prepay or repay debt, and the balance is for general corporate purposes, including network and AI infrastructure according to some reports.

How to Apply Once the Jio IPO Details Are Final

Open a demat account and link a UPI-enabled bank account.
Wait for the price band, lot size and dates in the red herring prospectus.
Bid through your broker or app during the issue window, in the retail, shareholder or employee category as eligible.
Approve the UPI mandate and keep the funds ready.
Check the allotment status after the issue closes and the shares in your demat account before listing.

Jio IPO Details: Grey Market Premium

The grey market premium has been quoted between Rs 120 and Rs 160, mostly Rs 145 to Rs 147 on 5 October. That is about 10% to 12% on a price near Rs 1,300 to Rs 1,400, but it is unofficial and misread several listings this week, so treat it separately from the Jio IPO details.

Risks to Weigh in the Jio IPO Details Before Bidding Opens

Unconfirmed details: The price band, dates and allocation in the Jio IPO details are not official until the prospectus is filed.

Valuation: About 18 times EBITDA and 43 times earnings, as in the Jio IPO details, leave less room than a smaller issue.

Competition and tariffs: Growth depends on tariff increases and 5G monetisation against Bharti Airtel and Vodafone Idea.

Debt and capital intensity: Return on equity is near 9.4% and borrowings remain large.

Market conditions: A weak market or a rate hike on 7 October could delay or shrink the response.

What to Watch Next for the Jio IPO Details

The red herring prospectus and price band in the week of 12 October.
Anchor investor names around 19 October.
The size of the Reliance shareholder and employee reservations.
Grey market premium and subscription once bidding opens.
The RBI policy on 7 October and market direction.

Conclusion

Jio IPO details show a Rs 37,000 crore to Rs 37,800 crore fresh issue, reportedly opening on 21 October and listing on 28 October, with Rs 27,500 crore going to debt repayment and a valuation of about $143 billion to $146 billion. The price band and lot size are still awaited, so the Jio IPO details on valuation are not final. Consult a SEBI-registered advisor before making any decision.

Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).

Frequently Asked Questions

What are the Jio IPO details?

Ans. A fresh issue of up to 27 crore shares worth about Rs 37,000 to Rs 37,800 crore, or $3.8 billion, with no offer for sale, reportedly opening on 21 October.

When does the Jio IPO open?

Ans. Reports say 21 October, closing on 23 October with listing on 28 October, but there is no official announcement yet.

What is the expected Jio IPO price band?

Ans. Not announced in the Jio IPO details. Rs 37,700 crore divided by 27 crore shares implies about Rs 1,396, my calculation.

What is the Jio IPO reservation?

Ans. Not more than 50% for institutions, at least 15% for non-institutional investors and at least 35% for retail, plus reservations for Reliance shareholders and employees.

How will Jio use the IPO money?

Ans. About Rs 27,500 crore will prepay borrowings of Reliance Jio Infocomm, and the balance is for general corporate purposes.

What are Jio's FY26 financials?

Ans. Revenue of Rs 1,46,885 crore, EBITDA of Rs 76,255 crore and profit of Rs 30,049 crore.

What is the Jio IPO GMP?

Ans. Quotes range from Rs 120 to Rs 160, with Rs 145 to Rs 147 on 5 October, and sit outside the Jio IPO details. It is unofficial and can mislead.