Jio Platforms IPO: QIB portion fully subscribed at nearly 2x - 10 key things to know

Rowe Price, Schroders, JPMorgan Asset Management, Franklin Templeton, Invesco, and Prudential. Anchor investors' demand for Jio Platforms’ IPO reached nearly Rs 2.5 lakh crore, making it the first Indian IPO to attract bids of this size. 1) Jio Platforms IPO date: The IPO opened for public subscription today. The subscription closes on October 23. 2) Price band: Jio Platforms IPO price band has been set at Rs 1,065 to Rs 1,119 per share, with the offering comprising up to 27 crore new shares.

3) Jio Platforms anchor book: The company mobilised Rs 8,109.84 crore from 212 anchor investors. Several major sovereign wealth and pension funds also invested in the issue, including Singapore’s GIC, Norges Bank Investment Management, Abu Dhabi Investment Authority, Qatar Investment Authority, PSP Investments, the California State Teachers’ Retirement System and the Florida Retirement System. Domestic institutional demand was also strong, with major mutual fund houses including SBI Mutual Fund, ICICI Prudential, HDFC Mutual Fund, Aditya Birla Sun Life, Nippon India and Kotak Mahindra Mutual Fund participating in the offering.

Major insurers and pension funds also took part, including Life Insurance Corp. of India, HDFC Life, SBI Life, SBI Pension, HDFC Pension, ICICI Prudential and UTI Pension. 4) Jio Platforms IPO GMP: According to platforms tracking grey market activities, the shares of the company are commanding a GMP between 22-23 percent. Investorgain quoted a GMP of Rs 247 for the shares of the company, indicating a listing gain of 22.1 percent, while IPO Watch quoted a GMP of 23.2 percent.

5) Jio Platforms IPO brokerage view: Motilal Oswal said: "Subscribe for Listing Gains and Long Term". "It is India’s largest digital connectivity platform by subscriber base, carrying a majority of the country’s wireless data traffic, with a nationwide 5G network built on proprietary technology and a growing fixed wireless broadband business under JioAirFiber. Digital services span cloud, enterprise solutions and artificial intelligence.

The promoter is Reliance Industries," Motilal Oswal said in the note. The note cited three main competitive strengths, including unmatched digital connectivity, operating leverage as EBITDA margin widened from 50.16 percent in FY24 to 51.91 percent in FY26 and 53.26 percent in Q1FY27, and improving monetisation. HDFC Securities also highlighted key competitive strengths in its IPO note on Jio Platforms, including a proprietary vertical technology stack and engineering capabilities; advanced and autonomous network technology infrastructure; comprehensive digital connectivity and high-speed network reach; and robust scale, Growth, and financial performance.

"Since its launch in 2016, [Jio Platforms] has reshaped India’s telecom landscape over the past decade through disruptive pricing and differentiated offering," said PhilipCapital. Emkay Global added that the issue was reasonably priced, given Jio Platforms' market leadership, pricing power, growth levers and execution record, adding, "With a proven execution record and cash generation strengthening as the 5G investment cycle winds down."

According to SBICAPS, the issue pricing reflects the firm's scale, earnings growth, technology capabilities and long-term monetisation potential. "The proposed repayment of the borrowings is expected to lower leverage and finance costs, strengthen cash flows and provide financial flexibility for future investments." 6) Jio Platforms IPO allotment date: Jio Platforms IPO allotment is likely to be finalised by October 26.

7) Jio Platforms listing date: The equity shares of the company are proposed to be listed on both BSE and NSE on October 28. 8) Jio Platforms IPO details: The much-awaited IPO comprises a fresh issue of 27 crore equity shares, representing 2.9 percent of the company's post-issue equity capital. The issue includes a reservation of shares worth Rs 500 crore for Jio Platforms employees and Rs 2,500 crore worth of shares for eligible shareholders of its parent, Reliance Industries.

The company will offer shares to eligible employees at a discount of Rs 54 per share to the final offer price. 9) Jio Platforms IPO objective: The company will use the proceeds partly to repay debt at its telecom subsidiary, with the remainder earmarked for general corporate purposes. Reliance Industries Ltd, will retain a majority stake in Jio Platforms after the listing. 10) Jio Platforms: About the company

Jio Platforms has grown into one of the world's largest mobile operators by subscriber numbers since Reliance entered the telecom market a decade ago. The business has expanded beyond mobile connectivity into broadband, digital entertainment, cloud, and enterprise services, making it central to Reliance’s push into India’s digital economy. The key driver of optimism is Jio Platforms' sheer scale. The firm has 533.3 million subscribers as of June 2026 and accounted for around 60 percent of India’s wireless data traffic. Further, Jio holds India’s largest spectrum bank at 26,800.8 MHz.