Reliance Jio IPO Price Band and Fundraising Target Announced
Reliance Industries has confirmed key details for Reliance Jio's upcoming initial public offering. The price band is set at Rs 1065 to Rs 1119 per share, with the company aiming to raise up to Rs 30,213 crore through 27 crore shares. Jio Platforms will be listed separately from Reliance Industries, and the offering is expected to be India's largest IPO by scale and proceeds.
Reliance Industries confirmed that Jio Platforms Limited, parent of Reliance Jio Infocomm, will list separately. The offer covers 27 crore shares with Rs 10 face value, priced at Rs 1,065–1,119. At the top end, proceeds could reach Rs 30,213 crore, making it India's largest IPO by scale and amount.
Bidding runs October 21–23, 2026; anchor investors bid October 19, and listing is expected October 28. Employees may get up to Rs 54 per share discount. Minimum retail bid is 12 shares, in multiples of 12; at the top price, one lot costs Rs 13,428. Proceeds are meant to reduce high-interest debt and support infrastructure growth.
The listing could broaden public participation in India's telecom sector, giving retail and institutional investors exposure to Jio Platforms. Employees may benefit from reserved shares and discounts. A large IPO may draw liquidity and attention to the broader market, while proceeds aimed at debt reduction and infrastructure could support network expansion, potentially affecting service quality and digital access. However, market outcomes and actual social benefits remain uncertain.