Reliance Jio IPO: Mukesh Ambani's Jio Platforms is preparing for a mega initial public offering (IPO) that could rank among India's largest public issues by fundraising. With a reported price band of ₹1,065 to ₹1,119 per share, the offering is expected to raise up to ₹30,213 crore and value the company at as much as ₹10.3 lakh crore, or approximately $106 billion.
With this, Jio IPO is on track to dethrone Hyundai Motor India Limited to become India’s largest-ever IPO.
Key dates: The proposed IPO involves up to 27 crore fresh equity shares, with no Offer for Sale (OFS) component from existing institutional shareholders, according to the details provided. The issue is expected to open for anchor investors on October 19, 2026, followed by the public subscription period from October 21 to October 23.
Jio Platforms IPO last recorded Grey Market Premium (GMP) was ₹172, as on Oct 10, 2026. With a reported upper price band of ₹1,119, its listing price is estimated to be 1291, indicating a listing premium of 15.4% from IPO price.
Jio Platforms' proposed fundraising puts it alongside some of India's largest IPOs, including Hyundai Motor India, the National Stock Exchange (NSE), Life Insurance Corporation of India (LIC), Paytm's parent One97 Communications and Tata Capital.