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Jio Platforms IPO Opens at ₹30,200 Crore as India's Largest Ever
Why is the Jio IPO in the news today?
Jio Platforms (unlisted; parent RELIANCE.NS) opened its ₹30,213 crore IPO on Wednesday at ₹1,065–1,119 a share, India's largest ever, to raise money mainly to cut debt.
Key numbers
| IPO size | ₹30,213 croreLargest ever; Hyundai India raised ₹27,800 crore |
|---|---|
| Valuation at top of range | ₹10.3 lakh croreAbout $108B; implies a raise near $3.2B, not $3.6B |
| Anchor investor raise | ₹8,110 crore212 investors; demand over 30x |
| FY26 net profit | ₹30,049 crore+15.1% YoY |
| FY26 revenue | ₹1.47 lakh crore+15% YoY |
| Retail minimum bid | 12 shares35% of the offer set aside for retail |
What happened
Jio Platforms (unlisted; parent RELIANCE.NS) opened its ₹30,213 crore IPO on Wednesday at ₹1,065–1,119 a share, India's largest ever, to raise money mainly to cut debt. An IPO is the first time a company sells its shares to the public. All 27 crore shares are newly issued, bidding runs until October 23, and trading is expected to start October 28. On Monday, 212 large investors bought ₹8,110 crore of shares ahead of the public sale, after bidding for more than 30 times that amount.
Why it matters
Jio Platforms' IPO lets everyday investors own a piece of India's biggest mobile network, valued at about ₹10.3 lakh crore (roughly $108 billion). Jio earned ₹30,049 crore in profit last financial year, so the price is about 34 times yearly profit, below rival Airtel's 39 times. How the shares trade will show how much investors will pay for Indian telecom.
Who this affects
- MarketbullishMedium impact
- Record IPO tests Indian investors' appetite; anchor demand looks strong.
- CompanybullishHigh impact
- Jio gets cash to cut debt; Reliance keeps 66.43%.
- CompetitorsmixedMedium impact
- Airtel shares rose 6% in two days before Jio's IPO.
- IndustryneutralMedium impact
- Investors get a public price tag for Indian telecom.
Jio Platforms vs Bharti Airtel, Vodafone Idea
| Jio PlatformsRELIANCE.NS (parent) | ₹10.3 lakh crore (IPO) | 34x | — |
|---|---|---|---|
| Bharti AirtelBHARTIARTL.NS | ~₹11.7 lakh crore | 39x | +6% |
| Vodafone IdeaIDEA.NS | ~₹1.4 lakh crore | — | — |
As of 2026-10-21
How we got here
Anchor investors bid; 212 funds receive shares worth ₹8,110 crore
IPO opens for public bidding at ₹1,065–1,119 a share
Bidding closes on the third day
Shares expected to begin trading
What to watch
- Final subscription numbers when bidding closes, especially retail and institutional demand2026-10-23
- Share allotment and refunds for investors who did not receive shares2026-10-26
- Jio's first-day trading price versus the ₹1,119 top of the range, and Airtel's reaction2026-10-28
Educational content only. Not investment advice.
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