Reliance Jio has announced its IPO price band of Rs 1,065 to Rs 1,119 per share following the filing of its red herring prospectus on October 14. The public issue is scheduled to open on October 21, 2026, and will close on October 23. The company is issuing a fresh tranche of up to 27 crore equity shares. At the upper end of the price band, Jio Platforms could raise approximately Rs 30,213 crore, potentially making it India's largest IPO.
The offering values Jio Platforms at around Rs 10.3 lakh crore at the upper end of the price band. This scale could lead to a reassessment of Reliance Industries' holding company discount and provide a clearer valuation benchmark for Bharti Airtel in the telecom sector. Unofficial grey market premium (GMP) figures show the share price quoted at Rs 1,339, implying a premium of Rs 220 per share over the upper band. The GMP has increased from Rs 148 on October 4 to Rs 220 in the latest readings. The article notes that GMP is an unofficial indicator of sentiment and does not guarantee listing gains.
Jio IPO sparks investor buzz: GMP hits 20% as Reliance’s telecom arm announces price band, dates #ETMarkets https://t.co/Tgyp1QsetQ
The IPO is the first public issue from the Reliance Group since 2008, marking a significant milestone for the conglomerate.
The article notes that GMP is an unofficial indicator of sentiment and does not guarantee listing gains.