Today, Friday, October 23, 2026, marks the final opportunity for investors to subscribe to the Jio Platforms Initial Public Offering (IPO). This monumental offering aims to secure Rs 30,213 crore, making it India's largest-ever IPO, with shares priced between Rs 1,065 and Rs 1,119 apiece.
Key Subscription Details and Deadlines
Interested investors must submit their applications by 5:00 PM IST on October 23. Following the application, the UPI mandate for payment creation is permitted until 7:00 PM IST. By the end of the second day of subscription, the issue had been oversubscribed 5.57 times overall. As of 9:10 AM on the final day, bids for 1,12,20,21,276 equity shares worth Rs 1.25 lakh crore had already been received.
- Qualified Institutional Buyers (QIB) portion: Subscribed 13.29 times
- High Net-worth Individuals (HNI) allocation: Subscribed 6.32 times
- Retail investors: Subscribed 1.60 times
- Shareholders and employees: Subscribed 4.21 times and 2.15 times, respectively
Company Profile and Offer Structure
Incorporated in 2019, Mumbai-based Jio Platforms is a technology giant focusing on digital connectivity, services, and solutions across India. The IPO comprises a fresh issue of 27 crore equity shares, with a minimum application size of 12 shares.
The company has made specific reservations within the offer:
- Rs 2,500 crore for eligible shareholders of Reliance Industries Ltd.
- Rs 500 crore for eligible employees, who will also receive a discount of Rs 54 per share.
The net offer is structured with 50 percent reserved for qualified institutional buyers, 15 percent for non-institutional investors, and 10 percent for retail investors.
Financial Performance and Brokerage Views
Jio Platforms reported a net profit of Rs 7,764.10 crore on revenue of Rs 40,197.90 crore for the quarter ending June 30, 2026. For the full fiscal year 2026, the company posted a net profit of Rs 30,052.70 crore and revenue of Rs 1,49,759.10 crore. At the upper end of its price band, the company commands a market capitalization of approximately Rs 10.30 lakh crore.
Most brokerages have expressed a positive outlook on the Jio Platforms IPO, citing its market leadership, potential for growth in average revenue per user (ARPU), expansion into 5G and broadband, and attractive valuations. However, concerns include dependence on ARPU growth, regulatory uncertainties, and high capital expenditure requirements.
Grey Market Premium (GMP) and Listing Date
The grey market premium (GMP) for Jio Platforms has seen some correction, currently standing at Rs 240-250 per share. This indicates a potential listing gain of 21-22 percent, down from approximately Rs 280 on the first day of bidding. Shares of Jio Platforms are scheduled to debut on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on Wednesday, October 28, 2026.
Valmiki Leela Capital noted that "Jio Platforms is a fundamentally sound business at a full valuation. It is suitable for long-term investors comfortable paying 33 times trailing earnings for India's largest telecom franchise but less compelling for those seeking a margin of safety or quick listing gains."