Jio Platforms IPO
Closes Fri 23 Oct21–23 Oct 2026
Our IPO analysis
What stands out in the offer document
The five questions
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1How it makes money₹54 of every ₹100 comes from Urban.
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2Is it growing, and is profit turning into cash?Sales rose 34% from FY2024 to FY2026 (₹1,09,558 cr → ₹1,46,885 cr). Over 3 years it made ₹77,581 cr of profit and brought in ₹2,03,374 cr of cash from operations.
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3How much cushion does it have?It owes ₹0.21 for every ₹1 of its own money. The line for it services / software is ₹0.5.
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4What you pay, and who gets the moneyAll the money raised goes to the company. At ₹1119 you pay about ₹37 for every ₹1 of last year's profit. The listed peers the document names: ₹22 (middle of 2).
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5Who controls it, and what is on record?Promoters own 66% before the IPO.
Every check we run on an offer document, and how often each one fires →
Jio Platforms GMP history
| When | GMP | Trackers |
|---|---|---|
| 21 Oct, 00:15 IST | ₹259 (+23.1%) | 2 |
| 20 Oct, 22:59 IST | ₹259 (+23.1%) | 2 |
| 20 Oct, 21:10 IST | ₹254 (+22.7%) | 2 |
| 20 Oct, 19:43 IST | ₹254 (+22.7%) | 2 |
| 20 Oct, 19:02 IST | ₹254 (+22.7%) | 2 |
| 20 Oct, 17:35 IST | ₹254 (+22.7%) | 2 |
| 20 Oct, 15:29 IST | ₹243 (+21.7%) | 2 |
| 20 Oct, 14:04 IST | ₹243 (+21.7%) | 2 |
| 20 Oct, 07:20 IST | ₹245 (+21.9%) | 2 |
| 20 Oct, 00:20 IST | ₹245 (+21.9%) | 2 |
| 19 Oct, 22:59 IST | ₹251 (+22.4%) | 2 |
| 19 Oct, 21:51 IST | ₹253 (+22.6%) | 2 |
Showing the latest 12 of 60 readings.
Grey-market premium is unregulated and self-reported: a sentiment read, not a promise. Today's GMP for every IPO · How often GMP has been right
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Latest update:
GMP +23.1% (₹259) · Price band ₹1,065–₹1,119 · Closes 23 Oct 2026 · Allotment 26 Oct 2026 (Confirmed) · Lists 28 Oct 2026 (Expected)
GMP is a compass, not a ruler: across the 60 IPOs we followed to listing it pointed the right way 80% of the time. The record
What Jio Platforms does
Jio Platforms Limited is a technology platform company built on proprietary digital technology and pan-India digital connectivity as the foundational layer. It provides mobile broadband, fixed broadband, and a suite of consumer and enterprise digital services, operating a vertically integrated proprietary technology stack encompassing network core, devices, software, operating systems, and digital applications.
Jio Platforms financials
Rs crore · Annual| FY2024 | FY2025 | FY2026 | ||
|---|---|---|---|---|
| Sales | 1,09,558 | 1,28,218 | 1,46,885 | |
| Operating Profit | 54,959 | 64,170 | 76,255 | |
| OPM % | 50.2% | 50.0% | 51.9% | |
| Net Profit | 21,423 | 26,109 | 30,049 | |
| Total Debt | 54,349 | 73,060 | 70,781 |
Jio Platforms IPO offer structure
Total issue size: ₹30,213 cr, all of it a fresh issue.
There is no offer for sale: all the money goes to the company.
Size and split come from a public aggregator rather than the exchange, cross-checked against a second.
Use of proceeds- Prepayment, in full or in part, of certain outstanding borrowings availed by the Material Subsidiary, namely, RJIL: ₹27,500 cr
- General corporate purposes
Jio Platforms promoters and holding
- Reliance Industries Limited: Promoter
Jio Platforms risks and strengths
- Inability to maintain or renew telecommunication licences and spectrum allocations could adversely affect business and operations. (p.30)
- Dependence on Promoter and Reliance Group entities for business arrangements, distribution, and infrastructure support services. (p.31)
- Reliance Retail Limited is the sole distributor of prepaid connectivity services, and any disruption in this arrangement would impact revenue. (p.33)
Jio Platforms peer comparison: DRHP median P/E 22.4x
Live BSE prices| Company | CMP | P/E | OPM% | ROE% | Source |
|---|---|---|---|---|---|
| Bharti Airtel Limited | Rs 1,872.75 -1.7% | 32.1x | 60.3% | 14.9% | live |
| Vodafone Idea Limited | Rs 12.34 -1.8% | 3.6x | 57.3% | -39.4% | live |
P/E from offer document where live data unavailable. Not a fair-value judgement.
Jio Platforms market and competition
Jio Platforms Limited is the market leader in digital connectivity in India, holding a 49.78% market share in wireless broadband and a 43.32% market share in overall fixed broadband as of June 30, 2026. Its primary named competitors in India include Bharti Airtel Limited, Vodafone Idea Limited, and BSNL.
Jio Platforms outlook, as the document states it
The company intends to monetise its proprietary technology stack including cloud-native RAN, 5G core, OSS/BSS platforms, and UBR-based fixed wireless access solutions in select overseas markets through partnerships with local operators. It also plans to expand home broadband penetration via JioFiber and JioAirFiber, deepen digital service adoption among small businesses, and deploy autonomous platforms powered by AI across core operations.
Jio Platforms IPO: common questions
What is the Jio Platforms IPO GMP (grey-market premium) today?
As of 21 Oct 2026 the indicative grey-market premium (GMP) for the Jio Platforms IPO is +23.1% across 2 independent grey-market sources. GMP is unregulated and self-reported, so treat it as a sentiment signal, never a guarantee. For context, across the 60 IPOs we have tracked from a pre-listing GMP quote through to the actual listing, grey-market premium pointed the right way 80% of the time. Never decide on GMP alone. Today's GMP for every live IPO →
When does the Jio Platforms IPO open and close?
The Jio Platforms IPO is open for bidding from 21 Oct 2026 to 23 Oct 2026. You can bid on any working day in that window through a broker app or net banking, and a UPI mandate has to be approved by the cut-off time on the closing day. Allotment is fixed on the working day after the close. Open, allotment and listing dates for every IPO →
What is the Jio Platforms IPO price band?
The Jio Platforms IPO price band is ₹1,065–₹1,119 per share. You can bid at any price inside the band, and a retail investor can bid at cut-off, which accepts the final issue price, usually the top of the band. The minimum investment is always worked out at that upper end. How book building sets the price →
What is the lot size and minimum investment for the Jio Platforms IPO?
One lot is 13 shares, and a retail application must be at least one lot. An HNI application starts above Rs 2 lakh, so the minimum is higher for that category. Lot size and minimum investment, explained →
When are the Jio Platforms IPO allotment and listing dates?
Not published yet. Derived from the close date on the usual timetable: allotment around 26 Oct 2026, refund/unblock around 27 Oct 2026 and listing around 28 Oct 2026. Treat these as estimates until the exchange confirms them. Allotment and listing dates for every IPO →
How do I apply for the Jio Platforms IPO?
Through any broker app or your bank's net banking, using a demat account and a PAN. You bid in lots at a price inside the band, or at cut-off. The money is blocked in your account, not debited, until allotment. One application per PAN. We do not recommend brokers and carry no broker links. How to apply, start to finish →
How often do these actually open above the issue price?
Of the 538 mainboard IPOs that have listed on the NSE since 2003, 381 (71%) opened above their issue price, at a median of +10%. That is the segment's own record, not a forecast for this issue.
Check it at the source: The offer document · NSE issues · SEBI offer documents
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Source: Jio Platforms IPO data, IPO agent by Kredfit, updated 21 Oct 2026. https://ipoagent.kredfit.com/ipo/jio-platforms-limited-406024.htmlSource: <a href="https://ipoagent.kredfit.com/ipo/jio-platforms-limited-406024.html">Jio Platforms IPO data – IPO agent by Kredfit</a> (updated 21 Oct 2026)