Jio Platforms IPO Pre-Apply Date: Issue Opens October 21, Check Allotment, Listing Date and How to Apply

Reliance's digital arm is going to launch India's biggest IPO, and the hype is making investors go crazy and a lot of them are looking to pre-apply. The Jio Platforms IPO opens for subscription on October 21 and closes on October 23, with a price band of Rs. 1,065 to Rs. 1,119 per share.

The company wants to raise Rs. 30,213 crore through a book-built issue that is entirely a fresh issue of 27 crore equity shares.

Jio Platforms IPO pre-apply Date

Pre-apply is a feature available on the broker app which lets investors submit their IPO application before bidding officially begins. The application is saved in advance, and the order is placed automatically when the issue opens on October 21, at which point a UPI mandate request is generated.

Funds are blocked only after you approve that mandate, so pre-applying does not lock up your money early.

Investors should check the IPO section of their broker's app to see whether pre-apply is live for them.

Jio Platforms IPO date, allotment and listing date

Anchor investor bidding is scheduled for Monday, October 19, after which the public issue will open for public subscription on Wednesday, October 21. The issue closes on Friday, October 23. The basis of allotment is expected to be finalised on Monday, October 26, with refunds and credit of shares to demat accounts on Tuesday, October 27. The shares are proposed to be listed on both NSE and BSE on Wednesday, October 28, a date that is still tentative.

Jio Platforms IPO price band, lot size and minimum investment

The price band is fixed at Rs. 1,065 to Rs.1,119 per share, with a face value of Rs. 10 per share. Investors must bid for a minimum of one lot of 12 shares, which means a minimum investment of Rs. 13,428 for an individual retail investor at the upper end of the price band. Eligible employees get a discount of Rs. 54 per share. The reservation structure is reported as 50% for qualified institutional buyers, 15% for non-institutional investors and 35% for retail investors, with a separate portion set aside for Reliance Industries shareholders.

Issue size: biggest IPO in India, no offer for sale

At Rs. 30,213 crore, the Jio Platforms IPO would be the largest public offering in India by issue size. The standout feature for this IPO, is the structure: it is an entirely fresh issue of 27 crore shares with no offer for sale (OFS) component, which means existing shareholders are not selling any stake and the proceeds go directly to the company.

At the upper end of the price band, the post-issue implied market capitalisation works out to roughly Rs. 10.3 lakh crore. Kotak Mahindra Capital Company is the book running lead manager, and KFin Technologies is the registrar to the issue.

Reliance shareholder quota: Who Is Eligible

About 12% of the issue, around Rs. 2,500 crore, has been reserved for eligible Reliance Industries shareholders.

According to the red herring prospectus (RHP), investors who held even one share of Reliance Industries on or before October 14th the date the RHP was filed, are eligible to apply under this category. The quota is available only to individual investors and Hindu Undivided Families (HUFs). Since the cut-off date has already passed, buying Reliance shares now will not make an investor eligible for the shareholder quota, though they can still apply in the regular retail category.

How to apply for the Jio Platforms IPO

Investors can apply through their broker's app or website by selecting the Jio Platforms IPO in the IPO section, choosing their category, entering the number of lots and bid price or opting for the cut-off price, and submitting their UPI ID. A mandate request then arrives in the UPI app, and approving it blocks the funds in the bank account until allotment. A