Jio Platforms IPO allotment out, shares to list on 28 Oct

Jio Platforms has finalised the allotment for its initial public offering, with shares set to list on the National Stock Exchange and the Bombay Stock Exchange on Wednesday, 28 October 2026. Jio Platforms IPO allotment results can be checked on the websites of the exchanges and registrar KFin Technologies. Successful applicants will receive shares in demat accounts on 27 October, while refunds for others will be processed the same day.

The Rs 30,213 crore issue was priced at Rs 1,119 per share at the upper end of its price band of Rs 1,065 to Rs 1,119. Jio Platforms IPO allotment followed bidding from 21 to 23 October, when the issue was subscribed 22.19 times overall. Total demand across the public issue and anchor placement crossed Rs 7.4 lakh crore, according to The Hindu BusinessLine.

Jio Platforms IPO allotment by investor type

Qualified institutional buyers led demand in the Jio Platforms IPO allotment, subscribing 70.55 times their portion. Non-institutional investors subscribed 14 times. Shareholders of Reliance Industries subscribed 7.6 times, employees subscribed 2.93 times and retail investors subscribed 2.72 times. Applications reached 1.39 crore, a record for an Indian public issue, according to Upstox.

Retail applicants were allotted by lottery where demand crossed supply, so not every retail applicant received shares. Each retail lot was 12 shares, worth Rs 13,428 at the issue price. Investors can check Jio Platforms IPO allotment status by entering a PAN or application number on the NSE bid verification page, the BSE allotment page or the KFin Technologies allotment site.

Jio Platforms IPO allotment and listing price

Shares will start trading at 10 am on 28 October, after a pre-open session sets the opening price. The grey market premium was reported at about Rs 245 to Rs 247 per share ahead of listing, which points to an unofficial opening estimate near Rs 1,364 to Rs 1,366. That premium is an unofficial market signal and is not a guarantee of the listing price, and actual trading on listing day can differ sharply from it.

At the issue price, Jio Platforms is valued at about Rs 10.3 lakh crore. Analysts cited by The Hindu BusinessLine put the valuation at 34.3 times FY26 earnings and 14.8 times FY26 earnings before interest, tax, depreciation and amortisation. Narendra Solanki, head of fundamental research at Anand Rathi Shares and Stock Brokers, cited the company's position in India's digital system, its technology platform and growth chances in AI, enterprise digital services and fixed broadband.

Jio Platforms IPO allotment and company scale

Jio Platforms is the digital arm of Reliance Industries. The company has filed 7,220 patent applications for its technology stack, according to The Hindu BusinessLine, and reported an operating margin of 51.91%. Net leverage fell to 0.36 times in FY26, which analysts read as a move toward stronger free cash flow generation.

Managing director Akash Ambani has said Jio Platforms is betting on technology, artificial intelligence and cloud services to drive growth beyond telecom services, according to Upstox. The listing on 28 October will test that case in public trading for the first time. Jio Platforms IPO allotment holders who received shares will be able to sell them only once trading starts on Wednesday.

The grey market premium is watched by applicants as an early signal, though the grey market premium has moved between about Rs 148 and Rs 273 over recent sessions, according to TradingView News. Demat accounts will show allotted shares on 27 October, and demat accounts of unsuccessful applicants will see blocked funds released the same day. Listing will take place on NSE and BSE, and trading on NSE and BSE will begin after the pre-open session on Wednesday morning.