Jio Platforms, the digital and telecom arm of Reliance Industries, is set to launch its initial public offering (IPO) with a price band of ₹1,065 to ₹1,119 per share. The fresh issue will comprise up to 27 crore equity shares, targeting a total raise of ₹30,213 crore, which could make it the largest IPO in India. The subscription window is scheduled from October 21 to October 23, with anchor investor bidding on October 19, according to Reliance Industries’ regulatory filings.
The IPO’s grey market premium (GMP) currently stands at ₹235 above the upper price band, suggesting an estimated listing price of ₹1,354 per share, about 21% higher than the IPO price. Over the past 15 sessions, the GMP has fluctuated by ₹87, reflecting changing market sentiment. Jio Platforms operates through its subsidiary Reliance Jio Infocomm Limited, which launched India’s first standalone 5G network and had 284.9 million 5G subscribers as of Q1 FY27, ranking it the world’s third-largest 5G customer base.
This IPO comes amid growing investor interest in India’s digital and telecom sectors, with Jio Platforms positioned as a major player due to its extensive 5G network and subscriber base. The ₹30,213 crore target surpasses recent large IPOs in the country, underscoring the scale of Reliance’s digital ambitions. The company’s strong market position and growth prospects have contributed to the high grey market premium, signaling robust demand ahead of the public offering.
The IPO subscription will close on October 23, with anchor investor bids placed on October 19. Market participants will closely watch the subscription levels and listing performance to gauge investor appetite for one of India’s largest public offerings this year.