Jio Platforms IPO: 5 Key Points Investors Should Know About The ₹1,065–₹1,119 Upcoming Mega Offer
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Jio Platforms’ ₹30,213 crore IPO will open on 21 October 2026. Its financial growth, customer base, 5G network and spectrum portfolio are key factors for investors to understand.
Jio Platforms, the digital and telecom unit of Reliance Industries, is going to launch its initial public offering (IPO) from 21 October to 23 October 2026. The company has set a price band of ₹1,065 to ₹1,119 per share, with the issue expected to raise ₹30,213 crore at the upper end.
The offering comprises a fresh issue of up to 27 crore equity shares, each with a face value of ₹10. Anchor investor bidding is scheduled for 19 October.
Here are five key areas investors can examine before applying for the Jio IPO.
1. What Are the IPO Details and Financial Numbers?
At the upper end of the price band, the IPO could become India’s largest public issue. Jio Platforms reported revenue from operations of ₹1,46,885 crore in FY26, compared with ₹1,09,558 crore in FY24. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to ₹73,382 crore from ₹54,341 crore over the same period.
Profit after tax (PAT) increased to ₹30,064 crore in FY26 from ₹21,422 crore in FY24. Earnings per share rose from ₹24 to ₹33.6. In Q1 FY27, revenue stood at ₹39,173 crore, and PAT was ₹7,765 crore.
2. How Strong Is Jio’s Customer Base and Business Growth?
Reliance Jio Infocomm Limited (RJIL) is the company’s key subsidiary. It had 533.3 million customers as of 30 June 2026. The customer base grew from 482 million in FY24 to 524 million in FY26. This included 36 million net additions during FY26.
Average revenue per user (ARPU) rose from ₹181.7 per month in FY24 to ₹214 in FY26 and ₹215.6 in Q1 FY27. Monthly churn declined to 1.6% from 1.7% in FY26.
3. What Do The 5G Network And Spectrum Assets Offer?
Jio had 284.9 million 5G subscribers in Q1 FY27. Its network supports applications such as cloud gaming, high-resolution video streaming and augmented reality.
As of 30 June 2026, the company held a spectrum portfolio of 26,800.8 MHz. The average remaining life is 16 years. It also had nationwide 5G spectrum across the 700 MHz, 3,300 MHz and 26 GHz bands, which support coverage, capacity and fixed wireless services such as JioAirFiber.
4. How Important Are Technology And Research Investments?
Jio Platforms’ technology ecosystem covers network infrastructure, software, devices, digital applications, cloud computing and enterprise services. As of Q1 FY27, 12,477 employees worked in digital product and technology development, representing around 45% of its workforce.
The company and its subsidiaries had filed 7,220 patent applications across areas including 4G, 5G, 6G, cloud-native networks and artificial intelligence. Its plans also include satellite broadband, 6G research and AI-led network automation.
5. What Other IPO Details Should Investors Consider?
The IPO terms provide for lock-in periods for anchor investors. Half of the shares allotted to them will be locked in for 30 days from allotment, while the remaining half will be locked in for 90 days.
The prospectus also identifies listed companies Bharti Airtel and Vodafone Idea as peers for comparison. Investors should assess Jio Platforms’ financial performance, business concentration, technology investments and issue valuation together rather than relying on subscriber numbers or technology ambitions alone.
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Neha Dubey has spent 6+ years turning market chaos into something readable. At Kotak Neo, she works on IPOs and writes for the Market Ready newsletter — making sense of the markets so you don't have to.
Off the clock, she's chasing good stories, new cuisines, and the occasional impromptu singalong. A believer in small pleasures, with excellent taste for a well-timed splurge.
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