Jio Platforms IPO

About Jio Platforms IPO

As on Oct 15, 2026, Mumbai: Jio Platforms IPO, opens on Wednesday, 21 October 2026 and closes on Friday, 23 October 2026. The allotment of shares will take place on Monday, 26 October 2026. The listing of shares will take place on Wednesday, 28 October 2026.

Jio Platforms IPO's price band is ₹1,065 to ₹1,119 per share, and the lot size is 12 shares. The minimum investment amount is ₹13,428 for one lot at the upper end of the price band, excluding applicable charges.

The offer consists of a fresh issue component only, with no offer for sale. The fresh issue will include up to 27 crore equity shares aggregating up to ₹30,213 crore.

Jio Platforms Limited is a technology platform built on proprietary digital technology, with pan-India digital connectivity as its foundational layer. Its subsidiary, Reliance Jio Infocomm Limited (RJIL), served 533.3 million customers in India as of 30 June 2026. The company offers mobile, fixed broadband and digital services, along with enterprise solutions such as cloud, internet of things (IoT), managed Wi-Fi and security, on a unified platform.

Jio Platforms IPO Objectives

1. Prepayment, in full or in part, of certain outstanding borrowings availed by its material subsidiary, RJIL.
2. General corporate purposes.

Jio Platforms Anchor Investor Bidding Date

Monday, 19 October 2026

About Jio Platforms Limited

Jio Platforms Limited was incorporated on 15 November 2019 at Ahmedabad, Gujarat, as a public company limited by shares under the Companies Act, 2013. Its promoter is Reliance Industries Limited (RIL).

The company operates as a single operating segment, with digital connectivity constituting substantially all revenue. Digital connectivity is provided through its material subsidiary RJIL. Jio has the third-largest 5G customer base in the world, based on 284.9 million customers on 5G SA as of 30 June 2026. As of that date, 28.6 million customers subscribed to JioFiber or JioAirFiber, making it the largest fixed broadband service provider in India.

Its wireless broadband network covered more than 99% of the population, and it had access to 3,60,537 network towers. Its fixed broadband coverage extended to approximately 98% of all PIN codes in India. The company also reports a pan-India physical network of 1,059 Jio Centres and 6,323 Jio Points.

The company also offers consumer digital services such as JioTV+, JioSaavn, JioGames, JioAICloud and JioPC, and enterprise solutions including cloud and security, IoT, managed services and enterprise artificial intelligence (AI).

Strengths

1. Deep-rooted engineering expertise and full-stack proprietary capabilities.
2. Transforming digital connectivity and digital services across India.
3. A culture of pioneering and innovation that drives execution excellence.
4. A nation-scale digital gateway to India.
5. Unique, future-ready and extensive network infrastructure.
6. Access to a pan-India tower and fibre network.
7. Future-ready network infrastructure.
8. A proven track record of scale, growth and profitability, supported by a strong balance sheet.

Risks

For Risk Factors, please refer chapter starting from page 30 of the RHP (dated October 14, 2026) available on SEBI and exchange websites.

1. Reliance Jio Infocomm Limited (RJIL) holds telecommunication licences and spectrum across different bands that are critical to its operations.
2. Disruptions to its network, passive infrastructure or technology could impair its ability to maintain consistent performance and deliver an uninterrupted customer experience.
3. Inability to respond to technological changes and evolving customer demands could adversely affect its business.
4. It does not control the use of the Jio trademark by other companies within the Reliance Group.
5. It has entered into various agreements with the Promoter, Reliance Retail Limited and other Reliance Group entities for different aspects of its business.
6. It depends on a limited group of passive infrastructure service providers for a substantial portion of its telecommunication towers and optic fibre network.
7. Cybersecurity incidents or data and privacy breaches could disrupt its operations and adversely affect its reputation, brand, business, financial condition and results of operations.

Business Model

Jio Platforms earns substantially all of its revenue from digital connectivity, delivered through RJIL across mobile and fixed broadband. Pre-paid connectivity contributed 77.08% of consolidated revenue from operations in FY 26. RJIL sells recharge vouchers to Reliance Retail Limited on a principal-to-principal basis, and Reliance Retail resells them to consumers and provides distribution, marketing and customer acquisition services under a master distribution agreement and a master collection agreement. Customer acquisition costs paid to Reliance Retail are amortised over the average life of customers and reported in selling and distribution expenses.

The company also offers digital services (such as JioTV+, JioSaavn, JioGames, JioAICloud and JioPC) and enterprise solutions (cloud, IoT, managed Wi-Fi, CPaaS, security, managed services and enterprise AI). ARPU for the exit quarter was ₹214.0 per month in FY 26 and ₹215.6 per month in the three months ended 30 June 2026.

Growth Trajectory

Jio Platforms Limited's Total Income for FY 26 was ₹1,49,759.10 crore, whereas in FY 25 and FY 24 it was ₹1,29,333.00 crore and ₹1,10,175.40 crore, respectively.

The PAT for FY 26 was ₹30,049.10 crore, whereas in FY 25 and FY 24 it was ₹26,109 crore and ₹21,423.20 crore, respectively.

Its EBITDA for FY 26 was ₹76,255.40 crore, whereas in FY 25 and FY 24 it was ₹64,170 crore and ₹54,958.70 crore, respectively. EBITDA margin was 51.91% in FY 26, 50.05% in FY 25 and 50.16% in FY 24.

Market Position

Jio Platforms serves customers across India through RJIL, with wireless broadband coverage of more than 99% of the population and fixed broadband coverage extending to about 98% of all PIN codes as of 30 June 2026. According to the Analysys Mason Report cited in the RHP, about 60% of India's wireless data traffic was carried on its network in Fiscal 2026; it held a 61.73% share of net fixed broadband customer additions in the three months ended 30 June 2026, and it held a 78.62% share of the 5G or UBR-based fixed wireless access market in the same period.

Its phygital distribution network includes the MyJio App, the Jio Set-top-box, 1,059 Jio Centres and 6,322 Jio Points. In FY 26, the company reported revenue from operations of ₹1,46,885.30 crore, EBITDA of ₹76,255.40 crore and Profit After Tax of ₹30,049.10 crore.

Industry Outlook

India's digital economy was ₹49.6 trillion (USD 0.6 trillion) in FY2026 and is expected to reach ₹125.8 trillion (USD 1.4 trillion) by FY 2031. The mobile connectivity market is estimated to grow from ₹2.9 trillion in FY 2026 to ₹5.2 trillion in FY 2031. The mobile broadband customer base is expected to rise from 1,002.3 million to 1,339.4 million and mobile broadband ARPU from ₹199.5 to ₹326.4 per month over the same period.

Jio Platforms IPO Registrar Details & Book Managers

Registrar Details
KFin Technologies Limited
Phone: +91 40 6716 2222 / 1800 309 4001
Email: jioplatforms.ipo@kfintech.com

Book Running Lead Manager
Kotak Mahindra Capital Company Limited
Morgan Stanley India Company Private Limited
BofA Securities India Limited
Axis Capital Limited
BNP Paribas
Citigroup Global Markets India Private Limited
CLSA India Private Limited
DAM Capital Advisors Limited
Goldman Sachs (India) Securities Private Limited
HDFC Bank Limited
HSBC Securities and Capital Markets (India) Private Limited
ICICI Securities Limited
IIFL Capital Services Limited (formerly known as IIFL Securities Limited)
Jefferies India Private Limited
JM Financial Limited
J.P. Morgan India Private Limited
SBI Capital Markets Limited
UBS Securities India Private Limited
360 ONE WAM Limited

Company Contact Details

Office-101, Saffron, Nr. Centre Point, Panchwati 5 Rasta, Ambawadi, Ahmedabad 380 006, Gujarat, India.
Phone: +91 22 7967 0000
Email: jpl.investorrelations@jio.com

How to Apply for Jio Platforms IPO?

1. Log in to your Kotak Neo account on the app/web and go to the "IPO" section.
2. Select the IPO to review details such as the price band and issue size.
3. Tap "Apply for IPO", select your category, and enter lots and bid price or choose the cut-off option.
4. Enter your valid UPI ID or choose ASBA to block funds in your linked bank account.
5. Submit the application and approve the mandate request sent to your UPI app to block funds.