The mega issue aims to raise approximately ₹30,213 crore through a fresh issue of shares, making it larger than Hyundai Motor India’s ₹27,870 crore IPO and potentially setting a new benchmark in the Indian stock market. Apart from its size, the offering is significant because it represents the first major public issue from the Reliance Industries Group in nearly two decades.

As excitement around the issue grows, investors are closely watching the latest Grey Market Premium (GMP), subscription trends, valuation metrics, and listing expectations.

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Jio IPO Opens for Subscription Today Amid Massive Investor Interest

The opening of the Jio Platforms IPO has generated enormous interest among retail and institutional investors alike.

Jio Platforms is the digital and telecom arm of Reliance Industries and currently operates one of the largest telecommunications and digital ecosystems in the world. Over the past few years, the company has expanded beyond mobile connectivity into broadband, enterprise solutions, digital services, cloud computing, artificial intelligence, entertainment, and financial technology.

The IPO is expected to further strengthen the company’s financial position while providing public investors with an opportunity to participate in India’s digital growth story.

Reliance Industries will continue to maintain majority ownership of Jio Platforms even after the company becomes publicly listed.

At the upper end of the price band, Jio Platforms is expected to command a valuation of nearly ₹10.3 lakh crore, making it one of the most valuable companies listed on Indian stock exchanges.

Jio IPO Price Band and Lot Size

One of the most important details for investors applying to the issue is the pricing structure.

Jio IPO Price Band

Jio Platforms has fixed the IPO price band at:

• ₹1,065 per share (Lower Band)
• ₹1,119 per share (Upper Band)

The final issue price will be determined through the book-building process based on investor demand.

Jio IPO Lot Size

The minimum bid lot has been fixed at:

• 12 Shares Per Lot

Applications can be submitted in multiples of 12 shares.

Minimum Retail Investment

At the upper price band:

• 12 × ₹1,119
• Minimum investment: ₹13,428

At the lower price band:

• Minimum investment: ₹12,780

Retail investors should calculate their investment requirements accordingly before submitting bids.

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Special Reservation for Shareholders and Employees

Jio Platforms has also set aside specific portions of the public issue for eligible investors.

Reliance Shareholder Reservation

Eligible Reliance Industries shareholders can apply under a reserved category worth:

• Up to ₹2,500 crore

Employee Reservation

Eligible employees can participate through:

• Up to ₹500 crore reserved quota

This reservation structure is expected to increase participation from existing stakeholders connected to the Reliance ecosystem.

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Retail Investors Get Significant Allocation

The company has ensured strong participation opportunities for retail investors.

According to the issue structure:

• Retail investors will receive at least 35% of the net offer.

This allocation is expected to support broader retail participation in one of India’s most anticipated IPOs.

The shares are proposed to be listed on:

• Bombay Stock Exchange (BSE)
• National Stock Exchange (NSE)

India’s Biggest IPO by Issue Size

The public issue is expected to rewrite the record books.

If Jio succeeds in raising ₹30,213 crore, it will become the largest IPO ever launched in India by issue size. This would surpass the previous record held by Hyundai Motor India’s IPO.

The issue consists entirely of a fresh issue of shares.

This means:

• New shares are being created
• Capital flows directly into the company
• Existing shareholders are not selling shares through an Offer for Sale (OFS)

The structure highlights Jio Platforms’ intention to raise fresh capital to fund growth plans and strengthen the balance sheet.

Jio IPO GMP Today: What Grey Market Trends Suggest

One of the biggest talking points surrounding the IPO is the Grey Market Premium.

According to grey market tracking reports, Jio Platforms IPO was recently commanding a GMP of around ₹253-₹273, indicating strong investor sentiment ahead of listing. The IPO GMP reported by market trackers suggests healthy demand from unofficial market participants before listing.

Based on a GMP of ₹253 and the upper issue price of ₹1,119, the estimated grey market listing price is around:

Estimated Listing Price

• IPO Price: ₹1,119
• GMP: ₹253
• Expected Listing Price: ₹1,372

Expected Listing Gain

Approximate gain:

• 22.61%

However, investors should remember that GMP is an unofficial indicator.

Grey market prices:

• Are not regulated
• Can change quickly
• Do not guarantee listing performance

Therefore, investment decisions should not be based solely on GMP figures.

Can Jio Platforms Become India’s Fourth Most Valuable Listed Company?

Market experts are closely evaluating where Jio could rank among India’s biggest listed companies once trading begins.

At the upper end of the IPO pricing range, Jio Platforms is expected to achieve a market capitalization of approximately ₹10.3 lakh crore.

If this valuation is maintained after listing, Jio could emerge as one of India’s largest publicly traded firms.

Based on current market valuations, Jio would sit alongside the country’s corporate giants and could rank behind only a few major companies in terms of market capitalization.

Such a debut would demonstrate the scale of Jio’s transformation from a telecom operator into a diversified digital technology platform.

Jio Platforms Financial Performance

A major reason for strong investor interest is the company’s impressive financial growth.

Revenue Growth

Revenue from operations increased to:

• FY26: ₹1.46 lakh crore
• FY25: ₹1.28 lakh crore

Net Profit Growth

Net profit rose to:

• FY26: ₹30,049 crore
• FY25: ₹26,109 crore

EBITDA Performance

Operating earnings (EBITDA) improved significantly:

• FY26: ₹76,255 crore
• FY25: ₹64,170 crore

These figures indicate continued expansion across the company’s telecom and digital businesses.

Strong revenue growth combined with rising profitability has strengthened investor confidence ahead of the stock market listing.

Jio Continues to Dominate India’s Data Market

Jio Platforms remains the largest digital connectivity provider in India.

Company data reported for June 2026 showed:

• Subscriber Base: 533.3 million
• Nearly 60% share of India’s total data traffic

These figures highlight Jio’s dominant position within the Indian telecom landscape.

Its expanding digital ecosystem has become one of the primary reasons analysts view the company as a long-term growth story rather than merely a telecom operator.

How Jio Will Use IPO Proceeds

The proceeds from the IPO will be used primarily to strengthen the financial position of Reliance Jio Infocomm.

Debt Reduction

Jio Platforms plans to use:

• Up to ₹27,500 crore

for repayment or prepayment of borrowings associated with its telecom subsidiary.

Reducing debt could improve financial flexibility and create room for future investments.

Future Growth Investments

The company is also expected to focus on:

• 5G Expansion
• Fibre Broadband Growth
• Artificial Intelligence
• Cloud Computing
• Enterprise Solutions
• Digital Infrastructure

These sectors are expected to drive the next phase of Jio’s growth strategy.

Global Technology Giants Continue to Back Jio

Over the years, Jio Platforms has attracted investments from several international technology leaders.

Strategic investors such as:

• Google
• Meta

have already taken stakes in the business.

Their continued partnership is expected to support innovation, digital ecosystem development, artificial intelligence initiatives, and future technology expansion plans.

Conclusion

Jio IPO Opens for Subscription Today in what could become the largest IPO in Indian stock market history. With a price band of ₹1,065-₹1,119 per share, a market valuation of around ₹10.3 lakh crore, strong financial performance, and significant growth opportunities in telecommunications and digital services, the issue has captured investor attention across the country.

While the latest GMP points toward strong listing expectations, investors should evaluate the company’s fundamentals, growth prospects, valuation, and personal risk appetite before applying. The IPO not only represents a milestone for Jio Platforms but could also redefine India’s public market landscape in the years ahead.