Reliance Jio Platforms IPO set to raise around ₹30,200 crore amid strong institutional demand

Reliance Jio Platforms announced that its initial public offering will aim to raise about ₹30,200 crore, the biggest equity raise in India to date. The company fixed a price band of ₹1,065 to ₹1,119 per share and set a minimum bid of 12 shares, with multiples of 12 thereafter. Eligible employees will enjoy a ₹54 per‑share discount.

The anchor‑book window opens on 19 October, followed by the public subscription period from 21 to 23 October. A total of 27 crore fresh equity shares will be issued; there is no offer‑for‑sale component, meaning all proceeds will flow to Jio Platforms itself.

Institutional appetite is robust. Domestic powerhouses – Life Insurance Corporation of India, SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund and Kotak Mahindra Mutual Fund – have signalled interest. On the global side, sovereign wealth funds and asset managers such as Allianz, BlackRock, the Government of Singapore Investment Corporation, Fidelity, Norway’s Government Pension Fund Global, New World Fund Inc and Smallcap World Fund Inc have also lined up for the anchor allocation. The combined commitments are reported at nearly ₹2.5 lakh crore, underscoring confidence in the venture.

A special reservation of up to ₹2,500 crore is set aside for eligible Reliance Industries shareholders, with an additional ₹50 crore earmarked for Jio employees. The company plans to use up to ₹2,7500 crore of the net proceeds to pre‑pay borrowings at its operating subsidiary, Reliance Jio Infocomm, with the balance allocated to general corporate purposes. Managing Director Akash Ambani said the debt reduction will help the business move toward a net‑debt‑free position and support its push into home broadband, enterprise services, cloud and artificial intelligence.

The grey market premium (GMP) is hovering around ₹220‑₹235, indicating roughly a 20‑21% premium over the offer price. At the upper end of the band, the minimum retail investment works out to about ₹13,428.

Analysts note that a successful listing would value Jio Platforms at roughly ₹10.3 lakh crore, reinforcing its status as one of India’s most valuable companies. The telecom operator already serves more than 530 million customers and posted a profit of ₹30,049 crore in FY26.

The IPO comes as India’s primary market gears up for a busy week, with nine other companies slated to debut, including Paras Healthcare’s ₹1,450 crore offering. The market holiday on 20 October for Dussehra will give investors a brief pause before the subscription windows close.

Overall, the Jio Platforms offering illustrates the depth of domestic and foreign capital willing to back a flagship Indian enterprise, while the proceeds promise to strengthen the telecom sector’s balance sheet and fund next‑generation digital initiatives.