The Jio Platforms listing opened at ₹1,359 per share on India’s National Stock Exchange on October 28, 2026, a 21.4% premium to the ₹1,119 initial public offering price. The debut delivered an opening gain of ₹240 per share to IPO investors.

Key Takeaways

  • The ₹30,213 crore offering was subscribed 22.19 times.
  • Jio had more than 533 million subscribers as of June 2026.
  • Up to ₹27,500 crore of IPO proceeds is earmarked to repay or prepay borrowings at Reliance Jio Infocomm.

Jio Platforms listing follows strong IPO demand

The offering consisted entirely of newly issued shares, with no shares sold by existing shareholders. The qualified institutional buyer portion was subscribed 70.55 times.

At the IPO price, Jio was valued at ₹10.3 lakh crore. The opening price was above that offer price; subsequent shareholder returns will depend on the price at which shares trade and the company’s performance.

Mobile revenue and broadband expansion

Jio’s average revenue per user was ₹216 in the quarter ended June 2026, when average monthly data consumption reached 43.7 GB per user. Changes in revenue per user are significant for a company with a subscriber base of more than 533 million.

Canara Bank Securities said Jio had connected around 30 million homes, including 6.5 million using unlicensed band radio, or UBR, technology. Reliance’s digital services overview describes UBR as a way to extend fixed-broadband reach and capacity.

New businesses and use of IPO proceeds

Jio is also developing cloud, enterprise and artificial intelligence services. Brokerage Geojit sees those businesses as potential longer-term earnings contributors, although their eventual commercial contribution remains uncertain.

Jio reported revenue of ₹1,46,885 crore and adjusted profit after tax of ₹30,046 crore for FY26. The planned repayment or prepayment of borrowings at Reliance Jio Infocomm would use the majority of the IPO proceeds.

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