Jio Platforms IPO: price band, dates, GMP 2026

What’s known so far

Jio Platforms’ proposed initial public offering has become one of the most tracked primary-market events, with multiple reports flagging a tentative price band of ₹1,065 to ₹1,119 per share. The IPO is expected to list on both the BSE and NSE on October 28, 2026, subject to final confirmations.

The issue is described as a book-built offering of 27 crore shares. Reports also indicate the offer is expected to be a fresh issue without an offer-for-sale component, though the company is yet to formally confirm all terms.

A key point for investors is that several items remain provisional. The price band, dates, and lot size are described as “expected” or “tentative” in the available information, with a separate update indicating the price band is expected to be announced on October 15.

IPO timeline: opening, allotment, and listing

The current schedule shared across reports places the public subscription window from October 21 to October 23, 2026. An anchor book is expected to open for a day on October 19, 2026.

The allotment date is stated as October 26, 2026, with the shares scheduled to list on October 28, 2026 on BSE and NSE. This timeline matters because it sets clear checkpoints for bids, allotment updates, and the first day of trading.

While these dates are widely reported, the same coverage also notes that the timetable remains subject to change until the RHP and final issue terms are filed and confirmed.

Issue structure and key terms

Jio Platforms IPO is described as a book-built issue of 27,00,00,000 shares (27 crore shares). The promoters are stated to be Reliance Industries Ltd (RIL). There is also a stated reservation for shareholders of Reliance Industries.

The expected lot size mentioned is 13 shares. At the upper end of the expected price band (₹1,119), the expected minimum investment is stated as ₹14,547 for one lot of 13 shares.

A separate line in the provided information also notes that the “final dates, price band and lot size are yet to be confirmed,” which investors should treat as a clear caveat.

Price band details and fundraise estimates

Multiple mentions in the provided text cite the IPO price band as ₹1,065 to ₹1,119 per share. One report also frames the potential fundraise range as ₹28,755 crore to ₹30,213 crore.

Another set of details indicates that at the upper end of the band, Jio Platforms is looking to raise around ₹30,200 crore. These figures position the issue as a potential record-sized listing in India, based on the reported comparison to Hyundai Motor India’s ₹27,858.75-crore IPO.

The price band itself is reported as not yet formally announced, with an update saying it may be announced on October 15.

Regulatory status: SEBI observation date

The information provided states: “DRHP Approved by SEBI: 28th Aug 2026.” Another section notes that Jio Platforms filed its draft red herring prospectus (DRHP) with SEBI in June and SEBI issued final observations on August 28.

This regulatory milestone is significant because it typically clears the way for the company to proceed with the next steps leading to the red herring prospectus (RHP) and the final issue launch.

Grey Market Premium (GMP) and indicative listing price

The grey market premium (GMP) cited is ₹212 per share, described as a 19% premium over the ₹1,119 expected upper price band. The timestamp provided is 13 Oct 2026, 6:45 PM IST.

Based on that GMP, the indicative listing price is stated as ₹1,331 (₹1,119 + ₹212). GMP is an informal indicator and not an official price signal, but it is widely tracked by retail investors to gauge sentiment around demand.

Valuation expectations from reported estimates

A Bloomberg-referenced estimate in the provided text suggests the proposed price band implies an equity valuation of around ₹9.8 lakh crore to ₹10.3 lakh crore, with market capitalisation “up to ₹10.3 lakh crore” at the upper end.

One section also adds a balance-sheet lens: adding FY26 net debt of ₹1.4 lakh crore (including deferred spectrum and lease liabilities) and netting off IPO proceeds yields an enterprise value (EV) of ₹10.9 lakh crore to ₹11.4 lakh crore.

Separately, Motilal Oswal Financial Services is cited as estimating Jio Platforms could command a valuation of around ₹11 lakh crore, broadly in line with its assessed value of ₹11.2 lakh crore.

What Nomura said on Reliance Industries’ stake value

Nomura’s view, as provided, focuses on the implications for Reliance Industries’ valuation. It said RIL’s 66.4% stake in Jio Platforms after the potential listing would be worth ₹481 to ₹506 per Reliance share, equivalent to 41% to 43% of the current share price.

Nomura also discussed a 20% holding company discount, which brings the value down to ₹385 to ₹405 per share, or 33% to 35% of Reliance’s share price as of October 9.

The same section notes Reliance stock’s correction into the listing: Reliance was down 26% year-to-date versus the NIFTY down 14% (as cited). Nomura also estimated Jio’s implied FY28F EV/Ebitda multiple at 10.5 to 10.9 times at the proposed IPO valuation, below a 12 times target multiple referenced for Bharti Airtel and Jio.

Key data snapshot

What to watch next

The next operational milestone flagged in the provided information is the expected price band announcement on October 15, followed by the expected filing of the RHP “early next week” (as referenced by industry sources in the text).

For investors, the key is to separate what is already dated and published (such as the SEBI observation date and the reported subscription window) from what remains expressly tentative (final price band, lot size confirmation, and any last-mile schedule changes).

Conclusion

Jio Platforms’ IPO is being tracked around a reported ₹1,065 to ₹1,119 price band, an October 21 opening, and an October 28 listing plan, with grey market indicators showing a ₹212 GMP as of October 13. The next confirmed checkpoint to watch is the formal price band announcement expected on October 15, along with the final RHP and issue terms.