Reliance Jio IPO: Latest News, Date, Price, GMP, Valuation, And Should You Invest?

The Jio Platforms IPO is expected to open for subscription on 21 October 2026, close on 23 October and list on NSE and BSE on 28 October, according to PTI and Reuters-sourced reports.

It is a 100% fresh issue of up to 27 crore equity shares, with no offer for sale. The price band and lot size will be official only once the RHP is filed.

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Key Takeaways

• Dates (reported, not yet official): Anchor round around 19 October, subscription 21 TO 23 October, listing 28 October.
• Issue size: The DRHP says “up to 27 crore equity shares”. Media estimates put the amount raised at roughly ₹33,000 to ₹37,700 crore, which would make it India’s largest IPO.
• Valuation: Reports point to about ₹12 lakh crore ($143 billion to $146 billion). Some estimates run higher.
• Structure: Fresh issue only. Meta, Google and other existing investors are not selling.
• Price band and lot size: Not announced.
• GMP: Reported at roughly ₹160 to ₹170. This is unofficial and can change daily.

Latest News and Updates

For months, the Jio IPO was a “when, not if” story. Now it has a paper trail. Jio Platforms filed its DRHP with SEBI on 19 June 2026, appointing 19 book-running lead managers. 

SEBI issued its observation letter on 28 August 2026. The company then ran global investor roadshows, and the market is now waiting for the RHP.

Jio Platforms is the digital services parent of Reliance Industries. Its subsidiary, Reliance Jio Infocomm, runs the mobile, broadband and 5G business. Reliance Industries held 66.43% of Jio Platforms as of 31 March 2026.

Jio IPO Timeline

Expected Price Band and Lot Size

The official price band will be announced a few days before the subscription opens. Since the face value of the share is expected to be ₹1, the equity price will depend on the final valuation.

Retail investors can apply for a minimum of one lot. The minimum investment amount will be around ₹14,000 to ₹15,000. This fits standard Indian market rules. Retail individuals can bid for a maximum value of ₹2 lakh.

Grey Market Premium (GMP) Trends

The Grey Market Premium is an unofficial trading premium. It shows the retail sentiment before a stock lists on the exchanges.

Right now, official grey market trading has not started. This is because the draft papers are yet to be approved. However, unlisted shares of the digital arm are trading actively in private circles. They are changing hands at an implied price of around ₹1,250 to ₹1,275.

Regular grey market data will emerge once the final price band is announced. High demand suggests that the listing gains could be very attractive.

Jio Platforms Financial Performance (FY26)

Jio Platforms’ numbers explain why investors are paying attention.

Revenue grew about 14.6%, and profit after tax rose about 15.1%. Jio reported 524.4 million subscribers as of 31 March 2026, including 268.5 million 5G users and roughly 1.5 crore fixed wireless access subscribers.

The balance sheet has also improved. Net leverage fell from 0.88x in FY24 to 0.71x in FY25 and 0.36x in FY26. The pre-issue EPS in the DRHP is ₹33.62, which will let you work out a P/E ratio once the price band is out.

The financial health of the business is rock solid. The company has shown consistent growth in both revenue and profit.

• Revenue Operations: The digital and telecom business crossed ₹1.45 lakh crore in recent annual tracks.
• Net Profits: Yearly profits have grown steadily. They are now hovering close to ₹30,000 crore.
• Profit Margins: Operating margins are very healthy as they remain stable at over 50%. This happens despite heavy investments in 5G infrastructure.

In 2026 January, sources communicated to Reuters that the Reliance Jio IPO could be worth as much as $4 billion. However, the final numbers will be decided only later. Going by investment bank Jeffries’s estimate released last November, the valuation of the IPO stood at $180 billion.

Objects of the Issue

The company is raising a massive amount of capital. It plans to use the money for critical business needs.

First, a large portion will go toward network expansion. The company wants to deepen its 5G coverage across rural India.

Second, it will upgrade its artificial intelligence infrastructure. It is setting up massive data centers to power cloud applications.

Third, some funds will be used to pay off outstanding debt. This will strengthen the balance sheet.

Lastly, global tech giants who bought stakes in 2020 might sell a small part of their holdings. This will create a healthy public shareholding float.

How to Apply for the Jio IPO

1. Keep a demat account and a UPI-linked bank account ready.
2. Wait for the RHP, then note the price band, lot size and dates.
3. Open your broker’s IPO section, pick Jio Platforms, and choose your category: retail, or the shareholder quota if you hold Reliance Industries shares by the record date.
4. Bid at the cut-off price or within the band, and approve the UPI mandate.
5. Check allotment status after the issue closes.

Should You Invest in the Jio IPO?

The Case For

• Scale and reach: Jio is India’s largest telecom operator by subscribers, with a 5G base of more than 268 million users.
• Strong profitability: An EBITDA margin above 51% is rare for a company this size.
• Lower debt: Net leverage has already fallen to 0.36x, and the IPO proceeds are meant to reduce borrowings further.
• A growth story beyond telecom: Broadband, fixed wireless, cloud and AI services give it more ways to earn per user.

The Risks

• Price: At a valuation of around ₹12 lakh crore, a lot of good news may already be priced in, which can limit listing gains.
• Competition and tariffs: Telecom earnings depend on tariff changes and competition.
• Heavy investment: 5G and AI infrastructure need large capital spending, and returns may take time.
• Market conditions: A big IPO can be affected by broader market sentiment during the subscription window.

What to Check Before You Bid

Rather than chasing GMP, look at the price band against the pre-issue EPS, the subscription numbers from day to day, and whether your investment horizon is long-term or listing-day. The long-term case rests on growth in 5G, broadband and cloud. A listing-day bet depends mostly on the final price.

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Conclusion

The upcoming Reliance Jio IPO will be a historic event for Indian stock markets. It represents a shift from a traditional oil-heavy conglomerate to a high-tech consumer giant. The company has strong financials and a massive user base.

It also has clear growth plans for 5G and artificial intelligence. These factors make it a compelling choice for wealth creation. Make sure your demat accounts are ready. Keep a close eye on the upcoming draft filings to catch the official dates.