Jio Platforms, the digital services arm of Reliance Industries, has set a price band of Rs 1,065-1,119 per share for its much-anticipated initial public offering (IPO). The company has fixed the floor price at Rs 1,065 per share, according to an exchange filing.
The IPO will open for subscription on Oct. 21 and close on Oct. 23, while bidding for anchor investors will take place on Oct. 19. The bid lot has been fixed at 12 equity shares, each with a face value of Rs 10. Eligible employees will receive a discount of Rs 54 per share, the filing said.
Jio Platforms has filed its red herring prospectus (RHP) with the Registrar of Companies (RoC), marking a key step towards the public listing of one of India's largest digital services businesses.
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The public issue will comprise a fresh issue of up to 27 crore equity shares. The company has also reserved shares worth up to Rs 2,500 crore for eligible shareholders of Reliance Industries, allowing qualifying investors in the parent company to participate through a dedicated portion of the offering, subject to the terms set out in the offer documents.
The IPO will also include a reservation of shares worth up to Rs 500 crore for eligible employees. The Rs 54-per-share employee discount will apply in accordance with the offer terms.
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Jio Platforms had filed its draft IPO papers in June, and the Securities and Exchange Board of India (Sebi) issued its final observations on Aug. 28. According to the draft prospectus, the proposed fresh issue of up to 27 crore shares represents about 2.9% of the company's post-issue equity base.
The offering is the first public issue from the Reliance Group since 2008 and the first IPO of a consumer-focused business within the conglomerate.
Jio Platforms houses Reliance Industries' digital businesses, including its telecommunications operations. Its telecom arm, Reliance Jio Infocomm, has a significant presence across India's mobile and fixed-line markets.
According to the figures provided in the offer-related information, Jio holds a 39.29% share of India's mobile connections, with 506 million customers, and a 32.89% share of fixed-line connections, serving 157.9 million customers.
The company also operates a large 5G network. Jio Platforms had 26.85 crore 5G customers as of June 2026 and says its 5G network carries close to 60% of India's wireless data traffic. Jio also leads the fixed wireless access segment globally, with around 1.5 crore subscribers, according to the company.
Jio Platforms reported a 15% increase in profit after tax to Rs 30,053 crore for fiscal 2026. Annual revenue rose 14.5% to Rs 1,46,885 crore.
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