Shares of Jio Platforms, the telecom and digital services arm of Reliance Industries, are scheduled to list on the NSE and BSE on Wednesday, October 28, 2026, after India’s largest-ever initial public offering. Trading is due to begin at 10 am following a pre-open session that sets the opening price, according to Coinpedia’s report on the listing schedule.
The Rs 30,213-crore issue was priced at Rs 1,119, the top of its Rs 1,065 to Rs 1,119 band, and attracted bids worth several times its size. This report was prepared before the listing, so it covers what is known about the offer and what investors may want to check on debut day.
How Demand Added Up
According to consolidated NSE data cited by Upstox, the issue received bids for about 438.3 crore shares against 19.75 crore on offer, a subscription of 22.19 times. Different trackers showed slightly different multiples at different times during bidding, so the exchange figure is the benchmark.
By category, qualified institutional buyers (QIBs) subscribed 70.55 times their quota, non-institutional investors 14 times and retail investors 2.72 times, with retail bids for about 23.1 crore shares against 8.5 crore reserved. Upstox reported that total demand across the IPO and the anchor book crossed Rs 7.4 lakh crore, that the issue alone drew bids worth over Rs 4.9 lakh crore excluding anchors, and that retail demand crossed Rs 25,867 crore.
Upstox also said the issue received a record 1.39 crore applications, the most for any Indian IPO. The anchor round, closed on October 19, brought in about Rs 8,110 crore from 212 investors at Rs 1,119, according to PTI.
Allotment, Refunds and Share Credit
The allotment was finalised on Monday, October 26. Investors can check their status on the website of registrar KFin Technologies and on the NSE and BSE IPO allotment pages, using their application number, PAN or demat account details. Coinpedia said the NSE listing symbol is JPL.
Allotted shares were due to be credited to demat accounts on Tuesday, October 27, and refunds for non-allottees were due the same day, according to the timetable published by HDFC Sky and IPO Watch. Because the retail portion was subscribed 2.72 times, some retail applicants are likely to have received fewer shares than they bid for or none at all, so checking for a refund is part of the routine.
Where the Grey Market Stands
The grey market premium (GMP), an unofficial indicator, stood at about Rs 244 to Rs 255 on Tuesday, according to TradingView and IPOji. That implies an indicative listing price of roughly Rs 1,363 to Rs 1,374, about 22% to 23% above the issue price. GMP is not regulated, differs across trackers and can change quickly, and it does not guarantee how the stock will list or trade.
What the Company Plans to Do With the Money
The offer was entirely a fresh issue of 27 crore shares, with no offer for sale, so the proceeds go to the company. Rs 27,500 crore is earmarked to repay borrowings at its subsidiary Reliance Jio Infocomm, and the rest will go to general corporate purposes, according to the red herring prospectus as reported by Upstox. In the prospectus, the company said it expects to benefit from listing and from creating a public market for its shares.
At the issue price, the company is valued at about Rs 10.3 lakh crore, according to HDFC Sky and Kotak Neo.
The Financial Picture
Figures cited by Upstox from the offer documents show steady growth. Revenue rose from Rs 1,09,558 crore in FY24 to Rs 1,28,218 crore in FY25 and Rs 1,46,885 crore in FY26, with Rs 39,172 crore in the first quarter of FY27. Net profit rose from Rs 21,423 crore to Rs 26,109 crore and then Rs 30,049 crore, with Rs 7,764 crore in the first quarter of FY27. EBITDA grew from Rs 54,958 crore to Rs 64,170 crore and Rs 76,255 crore, with Rs 20,864 crore in the first quarter. These are company-reported numbers and have not been independently audited by this publication.
Things Retail Investors Should Keep in Mind
Listing day can be volatile, and the opening price is set in a pre-open session before regular trading starts at 10 am. Investors who received shares should decide in advance whether they plan to hold or sell, and should not rely only on grey market numbers. Those who missed allotment can still buy in the open market once trading starts, though prices may move sharply in the first hours. A stock priced at a large valuation can swing widely, so position size and risk tolerance matter. This article is for information only and is not investment advice. Readers should consult a registered financial adviser.
What Happens Next
The opening price, first-day range and closing price on October 28 will show how the market values the company. Investors will then watch the company’s quarterly results and how it uses the proceeds.
Frequently Asked Questions
When will Jio Platforms list?
Wednesday, October 28, 2026, on the NSE and BSE, with trading starting at 10 am after a pre-open session.
What was the final subscription?
About 22.19 times, with QIBs at 70.55 times, non-institutional investors at 14 times and retail at 2.72 times.
What is the issue price?
Rs 1,119 per share, the upper end of the band.
How can I check allotment status?
On the KFin Technologies, NSE or BSE websites using your application number, PAN or demat details.
What is the GMP?
Trackers showed roughly Rs 244 to Rs 255 on October 27. GMP is unofficial.
What will the money be used for?
About Rs 27,500 crore to repay borrowings of Reliance Jio Infocomm, with the rest for general corporate purposes.
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