Reliance Jio IPO
JPL · BSE, NSE · Mainboard · Telecommunication - Service Provider
Overview
Updated 2 hr agoJio Platforms Limited is a technology platform company that provides digital connectivity and digital services in India. The company is offering up to 270,000,000 equity shares through a fresh issue to fund its growth and debt repayment.
The red bar is the price band. GMP-implied price is an unofficial grey-market number, not a forecast.
How much to apply
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 12 | ₹13,428 |
| Retail (max) | 14 | 168 | ₹1,87,992 |
| sNII (min) | 15 | 180 | ₹2,01,420 |
| bNII (min) | 75 | 900 | ₹10,07,100 |
At the upper band. The amount is blocked in your bank account through UPI, not paid, until allotment.
Final subscription
As of 12 Nov, 18:33 ISTTimes the shares on offer were bid for, by investor category. Above 1x means the category is fully booked.
Listing performance
Latest price updated 5 hr ago.
Issue details
| Status | Listed |
| Exchange | BSE, NSE |
| Segment | Mainboard |
| Sector | Telecommunication - Service Provider |
| Price band | ₹1,065–1,119 |
| Final issue price | ₹1,119.00 |
| Face value | ₹10 per share |
| Lot size | 12 shares |
| Minimum investment | ₹13,428 |
| Issue size | ₹30,188 Cr |
| P/E at upper band | 33.3x |
| Registrar | KFin Technologies Limited |
| Lead managers | Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, BofA Securities India Limited, Axis Capital Limited, BNP Paribas, Citigroup Global Markets India Private Limited, CLSA India Private Limited, DAM Capital Advisors Limited, Goldman Sachs (India) Securities Private Limited, HDFC Bank Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, IIFL Capital Services Limited, Jefferies India Private Limited, JM Financial Limited, J.P. Morgan India Private Limited, SBI Capital Markets Limited, UBS Securities India Private Limited, 360 ONE WAM Limited |
| NSE symbol | JPL |
| ISIN | INE0BJO01010 |
Shareholder quota and promoter holding
Company & business
Jio Platforms Limited is a technology platform company that provides digital connectivity and digital services in India. The company's platform is built on a vertically integrated proprietary technology stack and core capabilities across network, device engineering, software and operating systems and applications. It offers a comprehensive portfolio of services to consumers and businesses, including mobile and fixed broadband, digital entertainment, cloud and productivity tools, and enterprise IoT solutions. The company is a subsidiary of Reliance Industries Limited.
Objects of the issue — how the money will be used
- Prepayment, in full or in part, of certain outstanding borrowings availed by the Material Subsidiary, namely, RJIL (₹27,500 Cr)
- General corporate purposes
Key strengths
- Technology company with inherent engineering and full-stack proprietary capabilities
- Transforming digital connectivity and digital services in India
- Culture of innovation driving execution engine excellence
- The nation scale, digital gateway to India
- Future-ready network infrastructure
- Proven track record of scale, growth and profitability with strong balance sheet
Key risks
- Reliance Jio Infocomm Limited (RJIL) holds telecommunication licence and spectrum across different bands which are critical for its operations.
- We have entered into various agreements with the Promoter, Reliance Retail Limited and other Reliance Group entities for various aspects of our business.
- Reliance Retail Limited (RRL) is the sole distributor of our pre-paid connectivity services.
- Our Material Subsidiary, RJIL, contributes significantly to our Revenue from Operations, EBITDA and PAT.
- Any disruption to our network, passive infrastructure and technology could impair our ability to ensure consistent performance.
- If we are unable to respond to changes in technologies, we may face technological obsolescence.
- We do not control the use of the “Jio” trademark by other companies in the Reliance Group.
- We depend on a limited group of passive infrastructure service providers for a substantial portion of our telecommunication towers and optic fibre network.
Promoters
Reliance Industries Limited
Decoded from the RHP with AI on 31-Oct-2026. Check the offer document before you apply.
Financials (restated, ₹ crore)
| Period | Revenue | Expenses | Profit after tax | Assets | Net worth | Borrowings |
|---|---|---|---|---|---|---|
| FY24 | 1,09,558.10 | -- | 21,423.20 | 5,39,580.40 | 2,77,866.10 | 54,348.90 |
| FY25 | 1,28,218.40 | -- | 26,109.00 | 5,81,233.80 | 3,04,022.40 | 73,060.30 |
| FY26 | 1,46,885.30 | -- | 30,049.10 | 6,15,594.00 | 3,34,013.40 | 70,781.00 |
Key performance indicators · FY26
Peers & valuation
Listed peers as chosen by the issuer in the offer document (Basis for Issue Price).
| Company | Revenue (₹ Cr) | EPS (₹) | P/E | RoNW % | NAV (₹) |
|---|---|---|---|---|---|
| Reliance Jio this issue | 1,46,885.3 | 33.63 | 33.3x | 9.42 | 373.66 |
| Bharti Airtel Limited | 210,972.8 | 45.96 | 40.7 | 20.32 | 244.60 |
| Vodafone Idea Limited | 44,873.0 | 3.21 | 4.0 | -- | -3.30 |
This issue is priced at 33.3x P/E against a peer median of 22.4x: a premium of 49%. A measurement, not a verdict.
Other Telecommunication - Service Provider IPOs
Same sector, listed just before and after this one, with their listing-day change.
Paluck TechnologiesPALUCK · BSE · SME · Telecommunication - Service Provider+2.4%4 Sep Documents and resources
Offer documents and the issuer, exchange, registrar and SEBI pages for this issue.