Jio Platforms Limited has launched its ₹30,213 crore initial public offering, opening for subscription on October 21, 2026, and closing on October 23, 2026, with an expected listing date of October 28, 2026. The offering consists entirely of a fresh issue of 27 crore shares with no offer for sale component, utilizing a price band between ₹1,065 and ₹1,119 per share.
Anchor Demand and Key Metrics
Ahead of public subscription, institutional demand surged as anchor investor bids exceeded $25 billion, representing more than 30 times the shares available for institutional allocation. The anchor book allocated 7.24 crore shares to various institutions, with domestic mutual funds receiving 34.34% and life insurers taking 13.44%.
Financial Performance and Use of Proceeds
The company reported a consolidated net profit of ₹30,049 crore in FY2026, alongside an EBITDA margin of 51.91% and revenue reaching ₹1.47 lakh crore. Up to ₹27,500 crore of the proceeds will be used for the repayment or prepayment of borrowings at Reliance Jio Infocomm, which accounts for nearly 95% of consolidated EBITDA.
Valuation and Market Outlook
At the upper price band of ₹1,119, the company commands an implied market capitalization of approximately ₹10.3 lakh crore or $108.3 billion. Brokerage firm Motilal Oswal recommended subscribing to the issue for long-term holding and potential listing gains, noting a valuation of approximately 34 times its FY26 earnings against a grey market premium of ₹247 as of October 20, 2026.