The Jio Platforms IPO has received strong interest from institutional investors, with its ₹8,110-crore anchor book attracting bids worth approximately ₹2.5 lakh crore. The demand exceeded 30 times the shares available in the anchor portion, according to information from people familiar with the transaction.
The response comes ahead of the public issue, which is scheduled to open for subscription on October 21, 2026. Global asset managers, sovereign wealth funds, Indian mutual funds, insurers and pension investors were among those that reportedly participated in the anchor book.
International investment firms included BlackRock, Fidelity Investments, Capital Group, JPMorgan Asset Management, Franklin Templeton, Invesco and T. Rowe Price. Sovereign and public investment institutions such as Singapore’s GIC, the Abu Dhabi Investment Authority, Qatar Investment Authority and Norway’s Norges Bank Investment Management also reportedly placed bids.
Indian participants included SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Nippon India Mutual Fund and Kotak Mahindra Asset Management Company, alongside insurance and pension investors.
Anchor investors receive share allocations before the public subscription period. However, strong anchor demand does not guarantee similar demand from retail investors or determine how the stock will perform after listing.
Jio Platforms IPO: Issue Size, Price Band and Dates
Jio Platforms plans to raise ₹30,213 crore through its IPO, which will remain open from October 21 to October 23. The price band has been fixed at ₹1,065–₹1,119 per share.
The issue comprises a fresh issue of up to 27 crore shares, with no offer for sale. At the upper end of the price band, the company could command a valuation of approximately $108 billion, potentially making it India’s largest IPO.
The proceeds are intended to support debt repayment at its telecom subsidiary, Reliance Jio Infocomm, and meet general corporate purposes.
Business Growth and Financial Performance
Controlled by Reliance Industries, led by Mukesh Ambani, Jio Platforms operates across mobile connectivity, broadband, digital entertainment, gaming, cloud storage, smart-home technology and AI-enabled services. Its enterprise portfolio also includes cybersecurity, private 5G and managed cloud services.
According to figures cited in a brokerage note, the company served more than 53.3 crore customers as of June 2026, including over 28.5 crore 5G users.
Revenue from operations increased from ₹1,09,558 crore in FY24 to ₹1,46,885 crore in FY26. EBITDA rose from ₹54,959 crore to ₹76,255 crore, while profit after tax increased from ₹21,423 crore to ₹30,049 crore.
Should Investors Consider the Jio Platforms IPO?
Religare Broking assigned the issue a ‘Subscribe – Long Term’ rating, citing growth opportunities in 5G, digital services, higher average revenue per user (ARPU) and enterprise technology offerings.
However, investors should also consider risks arising from dependence on Reliance Jio Infocomm, telecom regulations, spectrum requirements, competition and infrastructure-provider concentration.
The strong anchor book indicates considerable institutional interest, but investors should evaluate the company’s valuation, financial outlook and risk factors before making an investment decision.
For official corporate information, visit the Reliance Industries website.
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