Jio Platforms Limited IPO
Offer terms, application timeline, financial context and company details in one place.
Price per share₹1,11912 shares per lot · indicative
Opens21 Oct 2026
Closes23 Oct 2026
AllotmentNot reported
Listing28 Oct 2026
Offer
Issue at a glance
- Issue size
- ₹30,213 crore
- Face value
- ₹10
- Issue method
- Book Building
- Fresh issue
- ₹30,213 crore
- Symbol
- JPL
- ISIN
- INE0BJO01010
Demand
As of 24 Oct 2026, 12:31 amSubscription
12.45×overall subscribed
Demand by bid price
₹1,06561,82,00,040 shares
₹1,06661,77,81,888 shares
₹1,06761,77,56,664 shares
₹1,06861,77,50,148 shares
₹1,06961,77,44,568 shares
₹1,07061,77,37,608 shares
₹1,07161,76,75,460 shares
₹1,07261,76,68,668 shares
₹1,07361,76,64,396 shares
₹1,07461,76,63,520 shares
₹1,07561,76,61,396 shares
₹1,07661,76,37,312 shares
₹1,07761,76,36,148 shares
₹1,07861,76,34,552 shares
₹1,07961,76,33,256 shares
₹1,08061,76,31,420 shares
₹1,08161,75,76,964 shares
₹1,08261,75,74,792 shares
₹1,08361,75,74,240 shares
₹1,08461,75,72,548 shares
₹1,08561,75,70,172 shares
₹1,08661,75,55,856 shares
₹1,08761,75,55,016 shares
₹1,08861,75,54,056 shares
₹1,08961,75,52,868 shares
₹1,09061,75,50,624 shares
₹1,09161,75,20,408 shares
₹1,09261,75,17,792 shares
₹1,09361,75,13,604 shares
₹1,09461,75,12,380 shares
₹1,09561,75,11,516 shares
₹1,09661,75,01,904 shares
₹1,09761,75,00,428 shares
₹1,09861,74,99,540 shares
₹1,09961,74,98,064 shares
₹1,10061,74,89,880 shares
₹1,10161,73,23,692 shares
₹1,10261,73,14,692 shares
₹1,10361,73,13,468 shares
₹1,10461,73,12,796 shares
₹1,10561,73,10,264 shares
₹1,10661,73,05,104 shares
₹1,10761,73,04,036 shares
₹1,10861,73,02,404 shares
₹1,10961,73,00,772 shares
₹1,11061,72,98,300 shares
₹1,11161,72,46,640 shares
₹1,11261,72,00,692 shares
₹1,11361,71,94,656 shares
₹1,11461,71,90,300 shares
₹1,11561,71,86,904 shares
₹1,11661,71,65,988 shares
₹1,11761,71,55,212 shares
₹1,11861,71,46,068 shares
₹1,11961,70,88,276 shares
Business
About the company
Incorporated on November 15, 2019, Jio Platforms Limited is a technology company focused on digital connectivity, digital services and technology-led solutions in India. The Company has developed proprietary digital technology and pan-India connectivity infrastructure to support the delivery of digital services to consumers and businesses. Its subsidiary, Reliance Jio Infocomm Limited, served 533.3 million customers as of June 30, 2026.The Company operates through an integrated technology platform encompassing digital connectivity, consumer applications, enterprise solutions, cloud services, Internet of Things (IoT) and artificial intelligence (AI). Its consumer offerings include mobile and fixed broadband, digital entertainment, cloud storage, virtual PC services and smart home solutions. For businesses, it provides enterprise connectivity, cloud and security solutions, managed services, IoT applications and AI-based solutions.
Performance
Financial snapshot
| Particulars | FY26 | FY27 |
|---|---|---|
| Revenue | ₹146,885.30 cr | ₹156,691.60 cr (6.68%) |
| PAT | ₹30,049.10 cr | ₹31,056.40 cr (3.35%) |
| PAT Margin | 20.46 % | 19.82 % (-3.13%) |
| EBITDA | ₹76,255.40 cr | ₹83,458.00 cr (9.45%) |
| EBITDA Margin | 51.91 % | 53.26 % (2.60%) |
| ROE | 8.94 % | 2.26 % |
| ROCE | 10.76 % | 33.63 % |
| D/E | 0.21 | 0.18 |
Research
What to consider
Business strengths
- Full-Stack Proprietary TechnologyThe company owns a vertically integrated technology stack across network, devices, operating systems and applications, with 12,477 employees in technology roles and 7,220 patent applications filed as of June 30, 2026, reducing vendor dependency and enabling faster innovation.
- Market Leadership in Digital ConnectivityThe company pioneered 4G VoLTE and standalone 5G in India, reaching 533.3 million customers with 284.9 million 5G subscribers as of June 30, 2026, and carrying around 60% of India's wireless data traffic in Fiscal 2026.
- Innovation-Driven Operational ExecutionA decentralised fractal operations model, JioBrain AI platform and digital twin technology enable autonomous network decision-making, faster rollouts and reduced time-to-market, with 84% of customer service requests handled through self-service or AI-assisted workflows.
Key risks
- Spectrum and Licence Renewal RiskRJIL's unified telecom licence is due for renewal in October 2033 and spectrum validity varies, with renewal, rollout obligations and future auctions subject to regulatory uncertainty; a delay in 26 GHz rollout led to a ₹106 million provision in Fiscal 2026.
- Dependence on Reliance Group ArrangementsThe company relies on non-exclusive agreements with the Promoter and Reliance Retail Limited for EPC services, business support, IT services and distribution; any disruption in these arrangements could adversely affect business and financial condition.
- Sole Distributor Concentration RiskReliance Retail Limited is the sole distributor of pre-paid connectivity services, constituting 77.08% of consolidated revenue from operations in Fiscal 2026; disruption in this arrangement would require costly transition to alternative distribution channels.
Context
Peer comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) |
|---|---|---|---|---|
| Jio Platforms Ltd. | 33.63 | 33.59 | 373.66 | 9.42 |
| Bharti Airtel Ltd. | 45.96 | 44.37 | 244.60 | 40.71 |
| Vodafone Idea Ltd. | 3.21 | 3.21 | -3.30 | 3.99 |
Filings
Offer documents
Advertisement27 Oct 2026Final Prospectus26 Oct 2026Red Herring Prospectus14 Oct 2026Draft Prospectus/Draft Red Herring Prospectus19 Jun 2026In-principle XBRL19 Jun 2026Anchor Allocation ReportBidding CentersProcessing of ASBA ApplicationsRatios / Basis of Issue PriceRed Herring ProspectusSample Application FormsSecurity Parameters (Post Anchor)