Jio Platforms Shares List at 21.36% Premium on NSE, BSE: Listing Price, Market Cap and Broker Views
Jio Platforms Ltd, the Reliance Industries-backed telecom and digital services company, made its stock market debut on 28 October 2026 with a strong listing. The shares listed at Rs 1,358 on both NSE and BSE, a 21.36% premium to the IPO issue price of Rs 1,119. Here are all the key prices and details in one place.
Jio Platforms listing at a glance
| Detail | Value |
|---|---|
| Listing date | 28 October 2026 |
| Issue price | Rs 1,119 |
| Listing price (NSE and BSE) | Rs 1,358 |
| Listing premium | 21.36% |
| Gain per share | Rs 239 |
| Gain per lot (12 shares) | Rs 2,868 |
| Intraday high (BSE) | Rs 1,374 |
| Market capitalisation | About Rs 12.5 lakh crore |
| BSE group | A group |
At this market cap, reports say Jio Platforms becomes India's second most valuable company, ahead of Bharti Airtel.
IPO details
| Detail | Value |
|---|---|
| Issue type | Book-built, fresh issue only (no offer for sale) |
| Issue size | Up to Rs 30,213 crore (largest IPO in India) |
| Price band | Rs 1,065 to Rs 1,119 |
| Face value | Rs 10 per share |
| Lot size | 12 shares |
| Minimum retail investment | Rs 13,428 at the upper price band |
| Bidding period | 21 to 23 October 2026 |
| Registrar | KFin Technologies Limited |
| Lead managers | 19 book-running lead managers, including Kotak Mahindra Capital, Morgan Stanley and ICICI Securities |
Subscription status
| Category | Subscription (as of 23 October, 7 PM) |
|---|---|
| Qualified institutional buyers (QIB) | 70.55x |
| Non-institutional investors (NII) | 14.00x |
| Retail individual investors | 2.72x |
| Employees | 2.93x |
| Shareholders | 7.60x |
| Overall | 22.19x |
Reports also say the issue drew nearly 1.4 crore applications and was fully subscribed within about 100 minutes of opening.
How Jio plans to use the money
The proceeds will be used to prepay all or part of certain borrowings of its material subsidiary Reliance Jio Infocomm Limited (RJIL), along with general corporate purposes.
About the company and its financials
Jio Platforms was founded in 2019 and operates mainly through RJIL, which offers mobile and fixed broadband along with services in entertainment, cloud, smart homes, gaming, enterprise solutions and AI applications. RJIL had 524.4 million customers as of 31 March 2026.
| Financials (Rs crore) | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue from operations | 1,09,558 | 1,28,218 | 1,46,885 |
| EBITDA | 54,959 | 64,170 | 76,255 |
| Profit after tax | 21,423 | 26,120 | 30,050 |
What brokerages are saying
| Brokerage | Rating | Target price | Key view |
|---|---|---|---|
| Motilal Oswal | Buy | Rs 1,350 | Wireless revenue market share may rise to about 43.3% by FY29 |
| Nomura | Buy | Rs 1,340 | Expects about 13.5% revenue growth a year over FY26 to FY29 |
| Elara Capital | Buy | Rs 1,367 | Based on 11.5x FY29E EV/EBITDA; expects tariff hikes and rising ARPU |
| PL Capital | Not specified | Not given | Calls it a long-term investment; execution is key |
Note that these targets are close to the listing price, and the roughly 22% upside quoted in reports is measured from the issue price, not the listing price.
What should investors and traders keep in mind?
Large IPOs often see volatile trading in the first few sessions as allotted investors book profits and new buyers enter. Investors who got an allotment should decide based on their own time horizon and risk appetite, and those who did not should avoid chasing the price on listing day. Watch the support near the listing price and the intraday high of Rs 1,374 on the Tick2Trade chart, along with delivery volumes and any index inclusion news in the coming weeks.
This article is for educational purposes only and is not investment advice. Please confirm all figures on the NSE and BSE websites.
