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Jio Platforms Ltd IPO

Tech-led NBFC delivering AI/ML driven retail credit across Tier-2 & Tier-3 India.

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Price Band ₹1065 – ₹1119 per share per share
Lot Size 12 Shares
Min. Investment ₹13428
Issue Size ₹28755 – 30213 Cr
Face Value ₹10
IPO Open 21 October 2026
IPO Close 23 October 2026
Allotment 26 Oct 2026
Listing 28 Oct 2026
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Live demand

Subscription status for Jio Platforms Ltd IPO

As of 21 Oct 26, 9:42 PM. Will get Updated in every 30 minutes

QIB 4.13x

Qualified Institutional Buyers

NII 0.55x

Non-Institutional Investors

Retail 0.43x

Retail Individual Investors

Total 1.43x

Across all investor categories

Key dates

IPO schedule for Jio Platforms Ltd

From the day bidding opens to listing — every milestone you need to track.

IPO Open 21 Oct 2026
IPO Close 23 Oct 2026
Allotment 26 Oct 2026
Refund / Unblock 27 Oct 2026
Listing 28 Oct 2026
About the company

Who is Jio Platforms Ltd ?

Jio Platforms Limited was incorporated on November 15, 2019 at Ahmedabad, Gujarat as Public Limited Company Limited by Shares under the Companies Act, 2013 with the Registrar of Companies. Central Registration Centre. Company is a market leader in digital connectivity services. Since its launch in 2016, Jio fundamentally reshaped digital connectivity for India, and created an all-internet protocol-led 4G network for consumers to access digital services.

The Company provide mobile and fixed digital connectivity such as wireless and fixed broadband. Digital services across entertainment, cloud gaming, cloud compute, cloud PC and storage, and smart home solutions through the own and third-party products; and access to next generation AI based products like AI assistants. The Company launched its 4G network with 4G voice over LTE (VoLTE) technology in 2016 and was among the first few greenfield all-internet protocol operators globally to launch 4G voice on this technology. In October 2022, it launched the 5G services, deploying more than 1 million 5G cells.

Many of the technology platforms, such as cloud-native RAN, 5G core, OSS/ BSS platforms, UBR-based FWA, are a potential source of future revenue from overseas markets. The network infrastructure is built on technological elements that Company has pioneered. Through extensive research and engineering, 4G VoLTE network was conceived as a video-first network specifically designed for use cases such as streaming, gaming and cloud computing.

Jio launched fixed broadband services in 2019 through the physical optic fibre-based service for digital connectivity, called 'JioFiber'. In 2024, it launched 'JioAirFiber', a fixed wireless access service leveraging the 5G and UBR spectrum, in eliminating the need for physical last mile connectivity and associated approvals. The fixed broadband connectivity, 'JioHome', provide customers comprehensive digital solutions for connectivity, home entertainment, and smart home solutions.

In FY 2026, Jio established an integrated infrastructure comprising international subsea cable systems and domestic Data Centre Interconnect (DCI) network, which enables connectivity between Indian data centres and major international data hubs such as Singapore, Europe, Middle East and the United States. The network is designed to support high-capacity bandwidth and low-latency connectivity to address increasing data traffic associated with hyperscalers, enterprise customers operating data centres in India, including for AI workloads, cloud computing platforms and content delivery services.

The Company has filed a Red Herring Prospectus with SEBI for the

fresh issue IPO of 270,000,000 Equity shares having the face value of Rs 10 each to raise funds aggregating Rs 30,187.65 crore between October 21, 2026 and October 23, 2026 in the price band Rs 1,065 to Rs 1,119.

Financial track record

Financials at a glance

Three-year trajectory of revenue, profit and assets — restated as per the RHP.

Revenue PAT Total Assets
FY 2026
FY 2025
FY 2024
Metric (₹ Cr)FY 2026FY 2025FY 2024
Total Income16,315.0011,912.007,666.00
EBITDA2,583.001,931.001,463.00
PAT1,281.00946.00772.00
AUM218,763.00215,898.00212,516.00

Strengths & Risks

A balanced look at what works in the company's favour and what investors should watch.

Strengths

  • A technology company with deep-rooted engineering capabilities and full-stack proprietary capabilities.
  • Transforming digital connectivity and digital services in India.
  • Culture of pioneering and innovation driving execution engine excellence.
  • The nation scale, digital gateway to India.
  • Future-ready network infrastructure.
  • Proven track record of scale, growth and profitability with strong balance sheet.

Risks

  • Reliance Jio Infocomm Limited ("RJIL") holds telecommunication licence and spectrum across different bands which are critical for its operations. Any inability to maintain or renew such licences or to successfully bid for any spectrum required for the company operations, could have a material adverse impact on its business, financial condition and results of operations.
  • The company has entered into various agreements with the Promoter, Reliance Retail Limited and other Reliance Group entities for various aspects of its business. Any disruption in the services under these agreements could have an adverse impact on the company's business, financial condition and results of operations.
  • Reliance Retail Limited ("RRL") is the sole distributor of the company's pre-paid connectivity services and provides channel distribution, marketing and promotional activities services to the company. Any disruption in its arrangement with RRL would adversely impact the company's business, financial condition and results of operations.
  • The company's Material Subsidiary, RJIL, contributes significantly to its Revenue from Operations, EBITDA and PAT. For instance, in Fiscal 2026 and the three months ended June 30, 2026, RJIL contributed 87.74%, 94.88% and 93.76%, and 87.34%, 93.89% and 92.31%, respectively, of the company's consolidated Revenue from Operations, EBITDA and PAT. Accordingly, any deterioration in the business, financial condition and results of operations of RJIL would adversely impact its consolidated financial condition and consolidated results of operations. Further, while the company operates as a technology platform, its key operational indicators ("KPIs") are primarily pertaining to the company's digital connectivity services provided by RJIL and does not reflect the technology platform specific metrics.
  • Any disruption to the company's network, passive infrastructure and technology could impair its ability to ensure consistent performance and deliver uninterrupted customer experience, which could have a material adverse impact on the company's business, financial condition and results of operations, and could lead to increased churn in its customer base.
  • If the company is unable to respond to changes in technologies, including for instance, more competitive satellite-based broadband services and the evolving demands of its customers, the company may faces technological obsolescence, which would have a material adverse impact on its business, financial condition and results of operations.
  • The company does not control the use of the "Jio" trademark by other companies in the Reliance Group. Such shared use of the "Jio" brand exposes it to risks related to negative publicity resulting from actions beyond the company's control. Further, its may be unable to adequately protect the company's intellectual property rights, and its may also be subject to risks of infringement claims. Any of these events may have a material adverse impact on the company's reputation, business, financial condition and results of operations.
  • The company depends on a limited group of passive infrastructure service providers for a substantial portion of its telecommunication towers and optic fibre network. Any disruption in the availability of these passive infrastructure assets could have an adverse impact on the company's business, financial condition and results of operations.
  • Any cybersecurity, data or privacy breach could interrupt the company operations and have an adverse effect on its reputation, brand, business, financial condition and results of operations.
  • The deployment of artificial intelligence ("AI") and machine learning ("ML") technologies across the company operations may not yield the desired results. Further, reliance on AI/ML technologies may expose it to inherent risks pertaining to algorithmic bias and model errors leading to inaccurate or biased outputs, which may cause reputational harm and adversely impact the company's business, financial condition and results of operations.

Jio Platforms Ltd IPO — frequently asked questions

The Jio Platforms Ltd IPO opens on 21 October 2026 and closes on 23 October 2026. Bidding is accepted from 10:00 AM on the open date until 5:00 PM on the close date. The IPO is available to all eligible investors including retail individual investors, non-institutional investors, and qualified institutional buyers.
The price band for Jio Platforms Ltd IPO is Rs 1065 to Rs 1119 per share. The lot size is 12 shares per lot, requiring a minimum investment of Rs 13428 at the upper price band. Investors must apply for a minimum of one lot and can apply for up to 12 lots as per SEBI guidelines.
You can apply for the Jio Platforms Ltd IPO through the Chola Securities app or web platform using UPI or ASBA. Log in to your account, navigate to the IPO section, select Jio Platforms Ltd from the open IPOs list, enter your bid quantity and price within the price band, and submit your application. You need an active demat account, a linked bank account, and a valid PAN to apply. Bidding closes on 23 October 2026 at 5:00 PM.
Allotment for Jio Platforms Ltd IPO is scheduled on 26 Oct 2026. Refunds or unblocking of funds for unsuccessful applicants will be processed on 27 Oct 2026. The shares are expected to list on 28 Oct 2026. You can check your allotment status on the Chola Securities IPO page or through the registrar's website using your PAN.
Chola Securities' research team has reviewed the Jio Platforms Ltd IPO based on the company's financials, business model, valuation, and sector outlook. The recommendation is available on this page. Investors are advised to read the full IPO note along with the company's Red Herring Prospectus before making an investment decision.
Yes, you can revise or withdraw your Jio Platforms Ltd IPO bid before the subscription window closes on 23 October 2026 at 5:00 PM. Revisions can include changing the quantity or price within the allowed price band. To withdraw, cancel your application through the platform before the closing time. Once the subscription period ends, no further changes are permitted.
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