Jio Platforms IPO: The mother of all IPOs in India is finally opening for subscription on October 21, 2026. The Reliance Industries-backed telecom giant, Jio, is launching Rs 30,213 crore public offer, the largest ever in India. The behemoth is expected to list next week.
The Jio IPO will be open from October 21, 2026, and close on October 23. The price band is Rs 1,065-Rs 1,119 per share, with a minimum lot of 12 shares. At the upper price band, retail investors need at least Rs 13,428 to apply.
Of the issue size, 50% is reserved for qualified institutional buyers (QIBs), including foreign institutional investors, mutual funds, banks, insurers and NBFCs. Non-institutional investors (NIIs) get 35%, while retail investors are allotted the remaining 15%.
Of the issue size, 50% is reserved for qualified institutional buyers (QIBs), including foreign institutional investors, mutual funds, banks, insurers and NBFCs. Non-institutional investors (NIIs) get 35%, while retail investors are allotted the remaining 15%.
The proceeds will be used to fully or partly repay outstanding borrowings of Jio's material subsidiary, Reliance Jio Infocomm Ltd (RJIL), and for general corporate purposes.
Through the IPO, Jio Platforms, Managing Director Akash Ambani said, their goal is to become debt-free.
LIVE Feed
Oct 21, 2026, 12:30 pm IST
Jio IPO Day 1 Today LIVE: Subsribe For Medium To Long Term
Analysts at Shriram Research recommend to subscribe Jio IPO for medium to long term growth.
Oct 21, 2026, 11:55 am IST
Jio IPO Day 1 Today LIVE: IPO Subscribed By 1.31x Driven On Strong Demand, QIBs Portion Oversubscribes 4x
Non-Institutional Investors (Bid amount above ₹2 lakh up to ₹10 lakh)
1,21,48,189
74,45,244
0.61
2.2(a)
Corporates
–
49,812
–
2.2(b)
Individuals (Other than RIIs)
–
73,17,300
–
2.2(c)
Others
–
78,132
–
3
Retail Individual Investors (RIIs)
8,50,37,327
3,14,11,248
0.37
3(a)
Cut-off
–
2,90,66,808
–
3(b)
Price Bids
–
23,44,440
–
4
Employees
46,94,835
39,43,644
0.84
4(a)
Cut-off
–
35,22,384
–
4(b)
Price Bids
–
4,21,260
–
5
Shareholders
2,23,41,376
1,52,76,396
0.68
5(a)
Cut-off
–
1,38,96,000
–
5(b)
Price Bids
–
13,80,396
–
–
Total
19,75,25,934
25,93,43,724
1.31
The Jio IPO has fully subscribed by 1.31x driven by strong demand across investors category. On Day 1, QIBs emerged as the biggest bidders of the IPO with the category oversubscribing nearly 4x the offered size. RIIs and NIIs have also shown healthy demand for the IPO.
Oct 21, 2026, 11:39 am IST
Jio IPO Day 1 Today LIVE: Bharti Airtel Share Price Jumps 2% As Jio IPO Hits D-Street
Airtel stock traded at Rs 1888.85 apiece up by nearly 1% on BSE with market cap of Rs 11,78,737.04 crore, at the time of writing. The stock rallied up to 2% to hit an intraday high of Rs 1,910 apiece in the early trade.
Jio IPO Day 1 Today LIVE: Airtel Share Price Vs Jio IPO
Jio is currently at a discount from Airtel. The IPO's issue price is at Rs 1,119 apiece at the upper end, which is nearly 41% discount from Airtel's current market price. The estimated valuation for Jio Platforms upon going public is expected to range between Rs 10 lakh crore to Rs 12 lakh crore. At the upper price band, Jio's pre-IPO valuation is around Rs 10.30 lakh crore. However, Jio's stardom will most likely not be enough for the company to take over its biggest rival Airtel. Opposite Jio's Rs 10.30 lakh crore valuation, the Sunil Mittal-backed Bharti Airtel holds a market capitalisation of nearly Rs 11.6 lakh crore. To outrun Airtel, Jio will need to surpass Rs 11.80 lakh crore mark or wish for Airtel to fall to its own level.
The estimated valuation for Jio Platforms upon going public is expected to range between Rs 10 lakh crore to Rs 12 lakh crore. At the upper price band, Jio's pre-IPO valuation is around Rs 10.30 lakh crore. However, many are projecting the valuation could rise above Rs 11 lakh crore post-listing. The highest estimated valuation is around Rs 12.36 lakh crore on BSE and NSE. Either way, if Jio lists at Rs 10.30 lakh crore market capitalization, Mukesh Ambani's Reliance would easily become the biggest business of India, a title which is currently held by Tata Group. Veteran banker Uday Kotak said, "The RIL group, after Jio's listing, will be India's largest conglomerate basis listed market cap."
Oct 21, 2026, 11:38 am IST
Jio IPO Day 1 Today LIVE: Religare Broking Recommends Subscribe For Long Term
Analysts at Religare Broking recommends SUBSCRIBE on JIO IPO for long-term.
Oct 21, 2026, 11:04 am IST
Jio IPO Day 1 Today Live: Is Jio IPO Worth Buying?
The Jio Platforms IPO has hit the Indian primary market on Wednesday, October 21, 2026. All qualified institutional, high net worth and retail investors can begin their bidding. Jio earned up to Rs 8,110 crore ahead of the IPO from at least over 200 anchor investors, attracting over 30 times its size. The latest grey market premium (GMP) also signals a double-digit percentage premium listing next week. While the hype around Jio IPO is jaw-dropping, one would wonder if it is worth holding.
Non-Institutional Investors (Bid amount above ₹2 lakh up to ₹10 lakh)
1,21,48,189
44,78,040
0.37
2.2(a)
Corporates
–
38,304
–
2.2(b)
Individuals (Other than RIIs)
–
43,93,956
–
2.2(c)
Others
–
45,780
–
3
Retail Individual Investors (RIIs)
8,50,37,327
1,94,00,268
0.23
3(a)
Cut-off
–
1,79,77,296
–
3(b)
Price Bids
–
14,22,972
–
4
Employees
46,94,835
26,76,888
0.57
4(a)
Cut-off
–
23,74,236
–
4(b)
Price Bids
–
3,02,652
–
5
Shareholders
2,23,41,376
97,22,712
0.44
5(a)
Cut-off
–
89,51,676
–
5(b)
Price Bids
–
7,71,036
–
–
Total
19,75,25,934
20,03,43,972
1.01
The JIO Platforms IPO has fully subscribed in less than 1 hour of its opening. The strongest buying is seen from qualified institutional investors (QIBs) as their portion subscribed nearly 3.25 times. The non-institutional and retail investors have shown steady demand with the category subscribing 26% and 23% of the allocated size. Employees bidding reached 57% of the offered portion. Shareholders of Jio subscribed 44% of the allocated size to them.
Non-Institutional Investors (Bid amount above ₹2 lakh up to ₹10 lakh)
1,21,48,189
42,30,156
0.35
2.2(a)
Corporates
–
38,124
–
2.2(b)
Individuals (Other than RIIs)
–
41,49,708
–
2.2(c)
Others
–
42,324
–
3
Retail Individual Investors (RIIs)
8,50,37,327
1,83,12,480
0.22
3(a)
Cut-off
–
1,69,76,652
–
3(b)
Price Bids
–
13,35,828
–
4
Employees
46,94,835
25,67,412
0.55
4(a)
Cut-off
–
22,74,264
–
4(b)
Price Bids
–
2,93,148
–
5
Shareholders
2,23,41,376
92,72,256
0.42
5(a)
Cut-off
–
85,46,196
–
5(b)
Price Bids
–
7,26,060
–
–
Total
19,75,25,934
18,12,87,732
0.92
The Jio IPO has witnessed a blockbuster opening with QIBs category oversubscribing thier portion by nearly 3 times the size. Strong demand is seen from NIIs and RIIs as well. The IPO is nearing to full subscription.
Oct 21, 2026, 10:03 am IST
Jio IPO Live: Largest IPO Of India Has Opened For Subscription At 10:00 AM Today
The IPO is finally out for bidding. All qualified institutional buyers (QIBs), non-institutional investors (NIIs) and retail investors can bid. The QIBs include mutual funds, foreign institutional investors, FPIs, and financial institutions like banks, NBFCs and insurance companies. The NIIs include high net-worth clients with investment value above Rs 2 lakh. The RIIs category belong to individuals who are investing below Rs 2 lakh in Jio Platforms.
Aggregate institutional demand exceeded ₹2,50,000 crore, reportedly the first time an Indian IPO crossed this mark, according to banking sources following the collation of demand from Indian and global investors.
2
Strong Anchor Book Demand
The ₹8,110 crore anchor book reportedly attracted demand of more than 30 times its size, indicating strong interest from long-term investors.
3
200+ Investor Lines
More than 200 investor lines highlighted the depth of participation, with multiple fund schemes from individual fund houses demonstrating institutional commitment.
4
Sovereign and Pension Fund Participation
Long-term investors reportedly included LIC, GIC, ADIA, QIA, Norges, PSP Investments, California State Teachers' Retirement System, Florida Retirement System, SBI Pension (NPS Trust), HDFC Pension, ICICI Pension and UTI Pension.
5
Leading Domestic and Global Investors
Participants reportedly included SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, BlackRock, Capital Group, Fidelity Management & Research, Schroders, JPMorgan Asset Management, Birla Mutual Fund, Kotak Mutual Fund, Nippon
Mutual Fund, Allianz, T. Rowe Price and Prudential.
6
Global Technology-Focused Investors
Global investment firms such as Dragoneer, Janus Henderson and Ninety One reportedly participated in the offering.
7
Indian Family Offices and Fidelity Contra Fund
Leading Indian family offices, including Enam, Premji, Zerodha and HCL-linked family offices, reportedly participated. Fidelity Contra Fund was also identified among the top anchor investors and described in the supplied information as a leading
active global mutual fund.
Ahead of the IPO, Jio Platforms raised up to Rs 8,109.84 crore from 212 anchor investors on October 19. 7 Key Highlights of Institutional Demand and Investor Participation In Anchor Bidding:
Oct 21, 2026, 9:53 am IST
JIO IPO Today LIVE: Akash Ambani says, Jio to become debt-free via IPO
"We have almost $3 billion of net debt on our books. The full proceeds take us to be a net debt-free company, and the growth capital is something that will flow from our revenues," said Akash during the IPO press conference. He added, ""We have the most affordable plans in India, and we have the price lever that we can always play. But our first endeavour is to deliver more services to our users and extract value that our competitors have left."
Oct 21, 2026, 9:53 am IST
Jio IPO Today LIVE: Objective Of The IPO
As this is a fresh issue, existing shareholders, including Meta and Google, are not selling their stakes. The entire proceeds will go to Reliance. The proceeds will be used to fully or partly repay outstanding borrowings of Jio's material subsidiary, Reliance Jio Infocomm Ltd (RJIL), and for general corporate purposes.
Oct 21, 2026, 9:53 am IST
Jio IPO Today LIVE: Allocation To QIB, NII, RII
Of the issue size, 50% is reserved for qualified institutional buyers (QIBs), including foreign institutional investors, mutual funds, banks, insurers and NBFCs. Non-institutional investors (NIIs) get 35%, while retail investors are allotted the remaining 15%.
Oct 21, 2026, 9:53 am IST
JIO IPO Today LIVE: Price Band, Bid Lot Size
The price band is Rs 1,065-Rs 1,119 per share, with a minimum lot of 12 shares. At the upper price band, retail investors need at least Rs 13,428 to apply.
Oct 21, 2026, 9:53 am IST
JIO IPO Today LIVE: Mother Of All IPOs Open Today
Jio is opening its Rs 30,213 crore worth IPO on October 21 for subscription. The issue will close on October 23, 2026. The company is offering fresh issue of 27 crore equity shares.
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