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Reliance Industries’ Jio Platforms has taken another step towards its much-awaited stock market debut, setting the price band for an initial public offering that is poised to become India’s largest IPO to date.
The IPO Committee of Jio Platforms Limited (JPL) approved a price band of ₹1,065 to ₹1,119 per equity share at a meeting held on Wednesday, October 14. The company has also set an employee discount and the minimum bid lot for the issue.
At the upper end of the price band, the IPO is expected to raise approximately ₹30,213 crore, surpassing Hyundai Motor India’s ₹27,870 crore issue in 2024 to become the largest IPO in India by issue size.
When will the Jio Platforms IPO open?
Reliance Industries filed the Red Herring Prospectus (RHP) for the IPO with the Registrar of Companies, Gujarat, at Ahmedabad, on Wednesday.
The issue will open for subscription on Wednesday, October 21, and close on Friday, October 23, 2026. The anchor investor bidding date has been set for Monday, October 19.
What is the minimum bid lot for the Jio IPO?
The minimum bid lot has been set at 12 equity shares, each with a face value of ₹10. Investors can bid for additional shares in multiples of 12.
Also Read: Jio Platforms IPO: Key details on dates, share issue, use of funds and Q1 results
Eligible employees bidding under the employee reservation portion will receive a discount of ₹54 per share.
What reservations have been made for employees and Reliance shareholders?
The IPO includes a reservation of equity shares worth up to ₹500 crore for eligible employees and up to ₹2,500 crore for eligible shareholders of Reliance Industries.
The shareholder reservation is open to eligible individuals and Hindu Undivided Families (HUFs) holding Reliance Industries shares, subject to the eligibility criteria and applicable rules as of the RHP filing date. Shareholders who are barred from investing under applicable laws will not be eligible.
With the price band and key dates now in place, attention will turn to investor demand as Jio Platforms prepares for what could be a landmark listing for India’s primary market.
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Disclosure: Reliance Industries Ltd, which owns Jio, is the sole beneficiary of Independent Media Trust that controls Network18, the parent company of CNBCTV18.com.
