Jio Platforms IPO: Offer price estimates for India's likely largest issue; what latest GMP hints at

Jio Platforms IPO: Reliance Industries Ltd (RIL)-led Jio Platforms (JPL) is reportedly planning to launch its initial public offering (IPO) in October. If market sources are to be believed, the Mukesh Ambani-led digital entity may launch its offering on Wednesday, October 21, a day after Dussehra.

The draft red herring prospectus (DRHP) of Jio Platforms suggests that the IPO will be entirely a fresh issue of 27 crore equity shares, with the majority of the proceeds to be utilised towards debt repayment. However, the company has not clarified the issue size, although market buzz suggests that it may raise Rs 30,000-35,000 crore through the IPO.

Based on market sources, we have calculated the estimated IPO size and tentative share price for Jio Platforms, considering an issue of 27 crore fresh shares. The following calculation is only an estimate based on available figures, and Business Today does not claim these numbers to be official.

Jio IPO: Tentative share price calculation

The calculation shows a linear relationship between the issue size and the estimated cut-off price per share. Every additional Rs 1,000 crore in issue size adds exactly Rs 37 to the estimated cut-off price. However, Jio Platforms has not yet announced the official price band.

Jio IPO: update on 6G!
Indian telecom giant Jio is gearing up for the 6G era. The company says India could be among the first countries to roll out 6G once global standards are finalised in 2030. Jio has already developed its pre-6G stack and Giga MIMO Radio, both of which are on display at the ongoing India Mobile Congress (IMC) 2026 in New Delhi.

According to Akash Ambani, Managing Director of Jio Platforms, the proposed listing will mark the beginning of a new phase of growth for the company. Speaking to the media at the India Mobile Congress in Delhi, he said the IPO was just the start of the journey. He added that the company was focused on delivering value and quality solutions to Indian consumers.

Jio Platforms IPO size
According to reports by Bloomberg, Jio Platforms may raise $3.4 billion through its maiden stake sale at a valuation of $114 billion. If these reports prove accurate, Jio Platforms would become India's third-most-valued company, after its parent, Reliance Industries, and telecom rival Bharti Airtel. It would surpass the likes of HDFC Bank Ltd and ICICI Bank Ltd.

Jio Platforms IPO GMP
Jio Platforms is set to become India's largest-ever IPO, surpassing Hyundai Motor India's Rs 27,870 crore IPO, which was launched in 2024. Even before any official announcement regarding the Jio Platforms IPO, the company was reportedly commanding a grey market premium (GMP) of Rs 175-180 per share.