Jio Platforms Ltd IPO
IT - Software
Price Band
₹1065 – ₹1119
Lot Size
12
Minimum Bid Quantity
12
Minimum Investment
₹13428
Issue Size
₹30213Cr
Opens
2026-10-21
Closes
2026-10-23
Listing
28-10-2026
Subscription Status
Qualified Institutional Buyers
7.09 x
Non-Institutional Investor
1.05 x
Retail Individual Investor
0.59 x
Employees
1.16 x
Shareholder
1.14 x
Total
2.36 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE0BJO01010
Pre-Apply Available
No
Daily Bidding Time
09:00:00 - 19:00:00
About the Company
Jio Platforms is a technology company that provides digital connectivity and digital services across India. Its subsidiary, Reliance Jio Infocomm Limited, offers mobile connectivity, fixed broadband, and digital services. These services provide access to the internet, digital applications, and emerging technologies, including artificial intelligence (AI). The company develops and operates its own technology stack, covering network infrastructure, device engineering, software, operating systems, and digital applications. Its technology portfolio includes 4G, 5G, cloud-native core network architectures, and AI-driven network automation. The company also develops digital products and technologies for consumers and businesses. As of June 30, 2026, Jio Platforms and its subsidiaries had applied for 7,220 patents in India and other countries across various digital technology areas. The company had 12,477 employees in its digital products and technology development team as of the same date. Its business combines digital connectivity infrastructure with software, applications, and other digital services. Use of proceeds: This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: Prepayment, in full or in part, of certain outstanding borrowings availed by the material subsidiary, Reliance Jio Infocomm Limited (RJIL) — Rs 27,500 crore General corporate purposes
Pros
- • Jio Platforms claims to have vertically integrated technology capabilities across network infrastructure, device engineering, software, operating systems, and digital applications. As of June 30, 2026, the company and its subsidiaries had applied for 7,220 patents in India and foreign jurisdictions, including technologies related to 4G, 5G, 6G, and AI-driven network automation.
- • The company claims to operate an end-to-end 5G standalone technology stack nationwide, covering its core network, devices, and OSS/BSS operating systems. It also uses proprietary unlicensed band radio (UBR) technology to provide fixed wireless broadband connectivity, with bandwidth of up to 1 Gbps.
- • As of June 30, 2026, the company had access to a pan-India network comprising 360,537 network towers and over 1.0 million route kilometres of fibre. Its wireless broadband network covered more than 99% of India’s population, while its fixed broadband coverage extended to approximately 98% of the country’s pin codes.
Cons
- • Jio Platforms has entered into various agreements with Reliance Industries Limited, Reliance Retail Limited, and other Reliance Group entities for project execution, business support, equipment supply, and distribution services. Reliance Retail Limited is the sole distributor of the company’s prepaid connectivity services, which contributed 76.37%, 77.88%, 77.08%, 78.57%, and 79.35% of consolidated revenue from operations in the three months ended June 30, 2026 and 2025, and FY26, FY25, and FY24, respectively. Any disruption or termination of these arrangements could adversely affect the company’s business, financial condition, and results of operations.
- • Reliance Jio Infocomm Limited (RJIL), the company’s material subsidiary, contributed 87.74% of consolidated revenue from operations, 94.88% of EBITDA, and 93.76% of profit after tax in FY26. For the three months ended June 30, 2026, its contribution was 87.34%, 93.89%, and 92.31%, respectively. Any deterioration in RJIL’s business or financial performance due to competition, regulatory changes, technological disruption, or other adverse events could materially affect the company’s consolidated financial results. Further, the company’s key performance indicators primarily reflect RJIL’s digital connectivity services and may not adequately represent its technology platform business, potentially limiting investors’ ability to assess its performance in this area.
- • Jio Platforms depends on a limited number of service providers for passive network infrastructure. As of June 30, 2026, Summit Digitel Infrastructure Limited owned 174,451 of the 360,537 network towers used by the company, while Jio Digital Fibre Private Limited met approximately 98% of its optic fibre network requirements, excluding the last-mile fibre network owned by RJIL. RJIL has long-term agreements with both providers, which require minimum payments and do not permit termination by RJIL. Any disruption in tower or fibre availability, failure to meet service commitments, or relocation of infrastructure could cause network outages, service degradation, and customer losses, adversely affecting the company’s business and financial performance.
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