Jio Platforms Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹1065 - ₹1119
- Lot size
- 12 shares
- Issue amount
- ₹30,187.65 cr
- Total subscription
- 21.33×
- Opens
- 21 Oct 2026
- Closes
- 23 Oct 2026
- Allotment
- 26 Oct 2026
- Listing
- 28 Oct 2026
Offer at a glance
Issue overview
- Issue size
- 27,00,00,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹12,780
- Fresh issue
- ₹30,187.65 cr
- Offer for sale
- ₹0 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹13,428
- Issue type
- Bookbuilding IPO
- Shares before issue
- 8,93,90,30,830
- Shares after issue
- 9,20,90,30,830
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 13 | ₹13,428 |
| sHNI | 15 | 180 | ₹2,01,420 |
| bHNI | 75 | 900 | ₹10,07,100 |
Share reservation
Subscription & GMP
Subscription by category
Reported 23 Oct 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 70,86,444 | 1,00,63,238 |
| EMPLOYEES | 0 | 2,16,846 |
| HNIs(10L +) | 1,34,980 | 3,68,978 |
| HNIs (2-10L) | 67,490 | 5,97,799 |
| Shareholder | 0 | 1,65,958 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 5,483.98 | 3,68,263.61 |
| RETAIL | 9,515.68 | 25,739.7 |
| HNIs 2+ | 1,359.38 | 13,864.48 |
| HNIs 10+ | 2,718.76 | 43,272.6 |
| EMPLOYEES | 525.35 | 1,531.08 |
| Shareholder | 2,500 | 18,963.46 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Jun-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| EPS | 8.69 | 33.63 | 29.21 | 23.96 |
| ROE | 0 | 0 | 0 | 0 |
| ROCE | 2.56 | 10.76 | 12.5 | 12.83 |
| RONW | 2.3 | 9.42 | 8.97 | 8.02 |
| PRE IPO(PE) | 0 | 33.27 | 0 | 0 |
| POST IPO(PE) | 33.19 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Bharti Airtel Limited | 42.27 | 0 | 5.00 | 244.60 | 20.32 | 45.96 |
| Vodafone Idea Limited | 4.65 | 0 | 10.00 | -3.30 | 0 | 3.21 |
| Jio Platforms Limited | 33.27 | 0 | 10.00 | 373.66 | 9.42 | 33.63 |
Company information
Company profile
Founded in 2019, Jio Platforms Limited is a leading digital technology company in India that operates through Reliance Jio Infocomm Limited. The company provides mobile and broadband connectivity, digital entertainment, cloud services, smart home solutions, gaming, and AI-powered services to more than 524 million customers across the country. Jio has built its own technology ecosystem covering networks, software, devices, and digital platforms such as MyJio, JioTV+, JioSaavn, JioGames, and JioAICloud. It also offers a wide range of business solutions including cloud computing, IoT, enterprise connectivity, cybersecurity, managed services, and private 5G networks, serving industries like banking, manufacturing, transportation, government, and IT. As of March 31, 2026, the company had over 28,000 employees and a growing portfolio of technology patents focused on connectivity, cloud infrastructure, and artificial intelligence.
Strengths
- Full-Stack Proprietary Technology: The company has an integrated technology stack covering network, device engineering, software and applications. As of March 31, 2026 , around 11,303 employees , or nearly 40% of its workforce, were involved in digital products and technology development, supporting 6,817 patent applications .
- Large-Scale Digital Connectivity: The company was the first to deploy 4G VoLTE connectivity at scale in India and reached 100 million 4G customers within 180 days of launch. As of March 31, 2026, it had 524.4 million customers , including 268.5 million 5G subscribers .
- Innovation-Driven Operations: The company uses a decentralised “fractal” operating model , a “digital twin” of its network for rollout planning and “JioGridX” to monitor network performance and customer experience across 82 parameters . These technologies support efficient execution and network management across India.
Risk factors
- Dependence on Telecom Licence & Spectrum: RJIL’s unified licence is due for renewal in October 2033 , while most of its spectrum is valid until 2041–2042 . Failure to renew licences, secure additional spectrum through future auctions or meet rollout requirements could materially affect the company’s business and financial condition.
- Network Disruption Risk: Reliable network performance is essential to the company’s operations. The company has experienced service disruptions, including an approximately two-hour 5G and JioAirFiber outage in Gujarat in FY2026 , along with disruptions caused by fibre cuts, power failures and weather events. Repeated outages could lead to customer dissatisfaction and higher churn.
- Technological Obsolescence Risk: The telecom industry is evolving rapidly with the shift toward 5G and the emergence of satellite-based connectivity. The company needs continuous investment in network infrastructure and AI capabilities, and delays in adopting new technologies could affect its competitiveness.
Promoters
Reliance Industries Limited
Registrar & documents
Lead manager
Kotak Mahindra Capital Co.Limited, Morgan Stanley India Co.Private Limited, BOFA Securities India Limited, Axis Capital Limited, Bnp Paribas, Citigroup Global Markets India Private Limited, CLSA India Private Limited, Dam Capital Advisors Limited, Goldman Sachs (India) Securities Private Limited, HDFC Bank Limited, HSBC Securities & Capital Markets (India) Private Limited, ICICI Securities Limited, IIFL Capital Services Limited, Jefferies India Private Limited, JM Financial Limited, JP Morgan India Private Limited, SBI Capital Markets Limited, UBS Securities India Private Limited, 360 One WAM Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Office - 101, Saffron, Nr. Centre Point, Panchwati 5 Rasta, Ambawadi, Ahmedabad, Gujarat, 380006
+91 22 7967 0000
[email protected]Company website ↗Understanding JPL IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.