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Jio IPO to Be India’s Biggest Ever at ₹30,213 Crore, Surpassing Hyundai

Posted on 15th Oct 2026 12:12 pm by rohit kumar

Jio Platforms Limited, the digital and telecom business of Reliance Industries Limited (RIL), has announced the price band for its much-awaited initial public offering (IPO). The company has fixed the price at ₹1,065 to ₹1,119 per share, with the public issue set to raise up to ₹30,213 crore at the upper end of the band.

 

The IPO is scheduled to open for subscription on October 21, 2026, and close on October 23, 2026. If it raises the targeted amount, Jio Platforms will surpass Hyundai Motor India’s ₹27,870-crore IPO to become the largest IPO in India by issue size.

 

Reliance Industries disclosed the latest IPO details in a regulatory filing on October 14. The price band and related application details were approved by the IPO committee of Jio Platforms’ board.

 

Jio IPO 2026: Key Details at a Glance

 

Company: Jio Platforms Limited

 

IPO price band: ₹1,065–₹1,119 per share

 

Issue size: Up to ₹30,213 crore

 

Issue type: Fresh issue of shares

 

Shares on offer: Up to 27 crore equity shares

 

IPO opening date: October 21, 2026

 

IPO closing date: October 23, 2026

 

Minimum lot size: 12 shares

 

Minimum investment at the upper price band: ₹13,428

 

Face value: ₹10 per share

 

Jio IPO to Surpass Hyundai Motor India’s Record

 

At the upper end of its price band, the Jio Platforms IPO is expected to raise approximately ₹30,213 crore, overtaking Hyundai Motor India’s ₹27,870-crore public offering in 2024.

 

The proposed issue would exceed Hyundai’s record by approximately ₹2,343 crore, making it a landmark event for India’s primary market.

 

Other major public offerings in India have included the National Stock Exchange, Life Insurance Corporation of India (LIC), Paytm and Tata Capital. Jio Platforms’ proposed issue size would place it ahead of these offerings if the issue raises the full amount targeted at the upper price band.

 

The offering is attracting attention because of Jio’s scale in India’s telecom and digital services markets, as well as the size of the proposed public issue.

 

Jio IPO Price Band: How Much Could the Company Raise?

 

Jio Platforms plans to issue up to 27 crore equity shares with a face value of ₹10 each. The total amount raised will depend on the final issue price and the number of shares allotted.

 

At the lower end of the price band, ₹1,065 per share, the issue could raise approximately ₹28,755 crore. At the upper end, ₹1,119 per share, the proceeds could reach ₹30,213 crore.

 

The proposed issue is structured as a fresh issue of shares. This means the company will issue new equity rather than simply offering existing shares held by current investors for sale.

 

The price band gives investors a defined range for submitting bids during the subscription period. The final allotment price will be determined through the IPO process.

 

Jio Platforms Valuation Could Reach ₹10.3 Lakh Crore

 

At the upper end of the price band, Jio Platforms is expected to command a valuation of approximately $108.3 billion, or around ₹10.3 lakh crore, based on the reported post-issue share count.

 

At that valuation, Jio Platforms could rank among India’s largest listed companies by market capitalisation. It has been reported as potentially becoming the country’s fourth-largest company by market value, behind Reliance Industries, Bharti Airtel and HDFC Bank.

 

However, the valuation is an estimate based on the IPO pricing and expected share count. The company’s actual market capitalisation after listing will depend on the share price at which its stock trades in the market.

 

Jio Platforms operates across telecom and digital services through its businesses and subsidiaries. Its public listing is expected to bring greater attention to the financial performance and growth prospects of Reliance Industries’ digital business.

 

When Will the Jio IPO Open and Close?

 

The Jio Platforms IPO will open for public subscription on Wednesday, October 21, 2026, and close on Friday, October 23, 2026.

 

Investors interested in applying should review the company’s Red Herring Prospectus (RHP) and the final issue details before submitting an application. The prospectus contains information about the company, the offer, risk factors and the use of proceeds.

 

Investors should also check the dates and application process through their broker or authorised investment platform before placing a bid.

 

At the upper end of the price band, investors will need ₹13,428 to apply for one lot. At the lower end, the minimum investment will be ₹12,780.

 

These figures exclude any applicable charges. Applying for an IPO does not guarantee that an investor will receive an allotment, as shares may be oversubscribed.

 

What Should Investors Consider Before Applying?

 

The size of the Jio Platforms IPO and the company’s position in India’s telecom and digital sectors are likely to make the offering closely watched by investors. However, a record-breaking issue size alone does not establish whether an IPO is attractively priced.

 

Before applying, investors should read the RHP, review the company’s financial statements, understand the risks described in the prospectus and consider the valuation at the upper and lower ends of the price band.

 

They should also remember that IPO shares can rise or fall after listing. Market conditions, investor demand, company performance and broader economic developments may all affect the share price.

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