19.67xsubscribed

Reliance Jio IPO

Q: How to invest in the Reliance Jio IPO ?

Investors can apply for the Reliance Jio IPO through their Demat account via the stock exchange or through their broker.

Q: What is the issue size of Reliance Jio IPO ?

The issue size of the Reliance Jio IPO is 30188 Cr.

Q: What is 'pre-apply' for Reliance Jio IPO ?

Pre-applying for an IPO allows you to submit your application before the official subscription period begins.

Q: Which exchanges will Reliance Jio IPO shares list on?

The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.

Q: What are the open and close dates of the Reliance Jio IPO ?

Reliance Jio IPO will be open between 2026-10-21 and 2026-10-23.

Q: What is the allotment date for the Reliance Jio IPO ?

Reliance Jio IPO allotment date is 2026-10-27. For Reliance Jio IPO allotment status check, you can visit the website of the registrar of the IPO.

Q: Who is the registrar of Reliance Jio IPO ?

For Reliance Jio IPO, the IPO registrar is KFin Technologies Limited . You can check Reliance Jio IPO allotment status on the website of the registrar.

Q: Where is the Reliance Jio IPO getting listed?

The shares are proposed to be listed on the BSE and NSE.

Q: When will Reliance Jio IPO shares be credited to your demat account?

The Reliance Jio IPO shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.

Q: What is the lot size and minimum order quantity of the Reliance Jio IPO ?

The Reliance Jio IPO lot size is 12 and minimum order quantity is 12.

19.67xsubscribed

Telecommunication - Service Provider

listed

₹12,780Min. investment

Reliance Jio Platform Limited IPO Details

Sector

Telecommunication - Service Provider

Issue size

₹30,188Cr

IPO type

Mainboard

Market cap

₹10,30,490CrHigher than sector avg

Price range

₹1,065 – ₹1,119

Listing exchange

BSE, NSE

RevenueApr 2025 - Mar 2026

₹1,46,885CrHigher than sector avg

Listing date

28 Oct 2026

Lot size

12 shares

Red Herring Prospectus

Read

Growth rate3Y CAGR

15.79%

SectorTelecommunication - Service Provider

Price range₹1,065 – ₹1,119

IPO type

Regular

Lot size12 shares

Issue size₹30,188Cr

Red Herring Prospectus

Read

Market cap

₹10,30,490CrHigher than sector avg

RevenueApr 2025 - Mar 2026

₹1,46,885CrHigher than sector avg

Growth rate3Y CAGR

15.79%

Reliance Jio IPO Subscription Status

Date	QIB	NII	Retail	Total
21-Oct-26	4.69 times (X)	1.39 times (X)	0.71 times (X)	3.02 times (X)
22-Oct-26	5.94X	5.29X	1.54X	5.25X
23-Oct-26	33.81X	13.43X	2.73X	19.67X

As on 21-Oct-26, 5:30 PM

Reliance Jio IPO Timeline

Pre-apply
16 Oct
Bid start
21 Oct
Bid end
23 Oct
Allotment
26 Oct
Release of funds
27 Oct
Demat transfer
27 Oct
Listing
28 Oct

Pre-apply
16 Oct 2026
Bid start
21 Oct 2026
Bid end
23 Oct 2026
Allotment
26 Oct 2026
Release of funds
27 Oct 2026
Demat transfer
27 Oct 2026
Listing
28 Oct 2026

About Reliance Jio Platform Limited

Jio Platforms operates a technology platform combining digital connectivity with consumer and enterprise digital services. Its offering integrates mobile networks, fixed broadband, applications, cloud capabilities and proprietary technology.

Reliance Jio Infocomm Limited (RJIL), the company’s principal operating subsidiary served 53.33 crore customers as of June 30, 2026. Connectivity provides the distribution foundation through which the group delivers entertainment, productivity and other digital services to customers across India. The company operates as a single operating segment, with digital connectivity accounting for substantially all its revenue

The company has developed capabilities across network technology, device engineering, software, operating systems and applications. Its digital products and technology development team comprised 12,477 employees, approximately 45% of its full-time workforce, as of June 30, 2026.

Average revenue per user (ARPU) stood at ₹215.6 in Q1FY27, compared with ₹214.0 in FY26 and ₹181.7 in FY24. Monthly data consumption per customer reached 43.7 GB in Q1FY27, while monthly customer churn stood at 1.61%. Total data traffic scaled up from 148.5 Bn GB in FY24 to 241.4 Bn GB in FY26, representing a CAGR of 27.50%.

Jio Platforms and its subsidiaries had filed 7,220 patent applications, of which 1,043 had been granted, including 560 in India and 483 abroad. This technology ownership supports product development, network automation and service delivery, although certain infrastructure and services remain dependent on partners. Its technology portfolio also includes JioBrain, a proprietary AI engine integrated into network operations for capacity allocation, fault prediction and real-time optimisation.

Jio Platforms has structured its business around five integrated layers that connect its technology infrastructure with consumer and enterprise services. The first layer comprises digital products and services, including consumer applications and enterprise solutions. The second consists of digital connectivity through its 4G and 5G networks. The third provides phygital access through the MyJio App, Jio Set-top-box and physical customer touchpoints. The fourth uses customer data and analytics to develop deeper customer insights, while the fifth comprises proprietary technology, intellectual property and licensed trademarks.

Its network infrastructure included access to 360,537 towers, most of which were fibreised, and approximately 57 lakhs deployed cells. Its fibre network spans more than 10 lakhs route kilometres, making it the largest among private digital connectivity providers in India. The wireless broadband network covers more than 99% of India's population, while fixed broadband coverage extends to approximately 98% of pin codes.

The company's spectrum holdings total 26,800.8 MHz, with a remaining average life of approximately 15.8 years. It is the only Indian operator holding 5G spectrum across the low-, mid- and millimetre-wave bands of 700 MHz, 3300 MHz and 26 GHz, respectively. Jio launched its 5G services in October 2022 and had 28.49 crore 5G subscribers, giving it the third-largest 5G customer base globally. The company accesses tower and fibre infrastructure through long-term agreements with other Reliance Group entities. RJIL has a 30-year master services agreement with Summit Digitel Infrastructure Limited and a 30-year fibre and duct agreement with Jio Digital Fibre Private Limited. Its international connectivity infrastructure includes interests in the EIG, IMEWE, AAE-1, BBG and IAX subsea cable systems. The company also maintains interconnections with more than 200 carrier partners.

Its consumer services connectivity portfolio includes 4G and 5G mobile services, JioFiber and JioAirFiber, with broadband speeds of up to 1 Gbps. Its digital entertainment offerings include JioTV+, which aggregates more than 1,000 digital TV channels and 15 OTT services, and JioSaavn, which offers more than 10 crore songs. JioGames gives access to more than 3,700 game titles, while JioAICloud has approximately 6.60 crore registered users.

Through JioPC which launched in 2025, the company has expanded its portfolio into cloud-based computing. Its JioBharat phone, priced at ₹799, targets the 26.10 crore users who remain on 2G networks. The MyJio App recorded 22.76 crore average monthly active users during Q1FY27, while the company's family of applications recorded average monthly active users of 36.26 crore.

Its enterprise solutions connectivity portfolio includes Internet Leased Lines (ILL), Multiprotocol Label Switching (MPLS), Software-Defined Wide Area Network (SD-WAN) and Virtual Private Network (VPN) services. The company also offers IoT solutions through JioThings, unified communications through JioCX and Jio Business Messaging, and enterprise AI services. The company has served more than 90% of India's private and public sector banks, while state electricity distribution companies in more than 80% of states and union territories use its solutions. It has also connected more than 75% of operational airports and served eight of the top 10 Nifty IT companies. In addition, Jio Platforms operates JioAds, an advertising technology platform, and is conducting trials of private 5G solutions for manufacturing, warehousing and mining applications.

Its distribution network includes the MyJio App, the Jio Set-top-box, 1,059 Jio Centres and 6,322 Jio Points. The company is also using digital tools and AI to manage customer service. 84% of service requests were handled through self-service or AI-assisted workflows during Q1FY27.

The industry backdrop offers scope for further adoption. India had 128.24 crore mobile customers, including 102.14 crore mobile broadband customers, as of June 30, 2026. Mobile broadband penetration stood at 69.62%. The rising disposable incomes, improvements in the device ecosystem and expanding digital use cases as drivers of adoption, customer engagement and potential growth in average revenue per user. Beyond connectivity, enterprise spending on cloud platforms, automation and artificial intelligence is expanding the addressable digital-services market. The industry projects India’s digital economy to reach ₹125.8 lakhs crore by FY31, supported particularly by business digitalisation. This creates opportunities across enterprise connectivity, cloud and managed services.

In mobility, the company plans to add new customers and migrate users from 2G to 4G and 5G networks. It also plans to increase its subscriber base for home broadband, JioFiber and JioAirFiber. The industry report estimates fixed broadband penetration in India to be around 21% and projected to reach approximately 46% by FY31. Jio Platforms aims to expand its enterprise footprint among the more than 7.9 crore micro, small and medium enterprises, which have less than 5% fixed broadband penetration. The growth in data consumption, and the expansion of 5G and fixed broadband services, is a tailwind for the company’s strategy to grow its connectivity business and increase the use of its digital services.

Now, Jio Platforms is launching its Initial public offering (IPO), which consists of a fresh issue of ₹30,213 crore. Its shares will be listed on the NSE and BSE.

Reliance Jio Limited IPO Analysis

IPO REVIEW

Reliance Jio IPO | Analysis Video

Should you apply?

Watch our analysts break down the Reliance Jio Limited IPO — business model, financials, valuation and key risks — to help you decide whether to apply. The video covers the IPO price band, important dates, and what the subscription numbers mean for retail investors.

Checklist

Quality analysis

Revenue growth

Company valuation

Earnings expansion

Risk analysis

Debt to Equity ratio

Promoter holdings

Shares pledged

The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

Strength and Weakness

Large customer base and distribution reach

RJIL’s 53.33 crore customers as of June 30, 2026, with digital and physical distribution channels, provide an established base for introducing additional services. The opportunity lies in increasing engagement and spending across existing customers as well as acquiring new users.

Fixed broadband expansion

JioFiber and JioAirFiber reached 286 lakhs customers as of June 30, 2026. The company accounted for 61.73% of industry net fixed broadband customer additions during Q1FY27. This supports expansion into household entertainment, productivity and connected-device services.

Proprietary technology capabilities

In-house capabilities span network architecture, devices, software and applications. These support faster product development and network automation while reducing dependence on external technology vendors in selected areas. The company also intends to monetise its technology platforms in overseas markets, although this remains an execution opportunity.

Improving operating profitability

EBITDA margin increased from 50.05% in FY25 to 51.91% in FY26, while cash capex declined from ₹44,268.00 crore to ₹34,184.30 crore. EBITDA less cash capex consequently increased from ₹19,902.00 crore to ₹42,071.10 crore. This indicates improved capacity to meet other financial requirements, but is not equivalent to FCF.

Debt reduction through issue proceeds

The proposed ₹27,500 crore borrowing prepayment could lower servicing costs and increase financial flexibility. The benefit will depend on the specific facilities repaid, repayment timing and subsequent funding requirements.

Objectives of Reliance Jio Limited IPO

Repayment of Borrowings

91.02%

₹27,500 crore will be used to repay outstanding borrowings of RJIL.

General corporate purposes

8.98%

IPO proceeds for general corporate purposes capped at 25% of gross proceeds.

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CompanyRevenue*3Y growthPATMarket capP/E ratioD/E ratio

This IPO₹1,46,885Cr15.79%₹30,049Cr₹10,30,490Cr33.270.21

This sector (avg.)₹11,802.12Cr---₹801.77Cr₹90,405.29Cr18.240.61

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₹30,122.8Cr---₹9,931.7Cr₹1,17,168.7Cr12.520.65

*Revenue for financial year 2025-26. Lower P/E and D/E ratios are generally preferred.

Reliance Jio IPO Contact Details

Company Name	Reliance Jio Platform Limited

Company NameReliance Jio Platform Limited

How to apply for Reliance Jio IPO?

Step 1
Log in to your Upstox account to access IPO investments. Next, select the current IPO section.
Step 2
Specify IPO details. Enter the number of lots and the price you wish to apply for.
Step 3
Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4
Mandate Notification. Your UPI app will receive a mandate notification to block funds.
Step 5
Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.