Jio Platforms' Rs 30,213 crore IPO opens; minimum retail bid Rs 13,428 per lot

The much-awaited initial public offering (IPO) of Jio Platforms, the digital and telecom company of the Reliance group, opened for subscription on October 21, 2026. The company will raise Rs 30,213 crore through the issue. Retail investors, high net-worth individuals (HNIs), institutional investors and eligible shareholders of Reliance Industries can apply in separate categories.

Shares worth Rs 2,500 crore have been reserved for eligible Reliance shareholders and shares worth Rs 500 crore for eligible employees.

The price band has been fixed at Rs 1,065 to Rs 1,119 per share. A lot has 12 shares, so at the upper end of the band retail investors will have to put in at least Rs 13,428.

Retail applications can generally go up to Rs 2 lakh. On that limit, applying for 14 lots at the upper price band will cost Rs 1,87,992. Before applying, investors should check the options on their broker's platform and the official rules of the IPO.

Investors bidding for more than Rs 2 lakh fall in the non-institutional investors (NII) category. It has two parts, small HNI and big HNI. A small HNI bid needs a minimum of 15 lots, or Rs 2,01,420, and a maximum of 74 lots, or Rs 9,93,672. A big HNI bid needs a minimum of 75 lots, or Rs 10,07,100. All these amounts are calculated at the upper price band of Rs 1,119 per share.

Eligible institutional investors such as banks, mutual funds and insurance companies have a separate category of qualified institutional buyers (QIB). Application and allotment rules differ for each category, so it is important to choose the right option while applying.

Holding Reliance shares alone is not enough to use the Rs 2,500 crore shareholder quota. The investor must also meet the eligibility conditions set by the company. The record date for eligibility under this quota was October 14, 2026. Eligible shareholders can apply under the shareholder quota. If eligible, they can also apply separately under the general retail or NII category, but the limits and rules of each category will apply.

Under the official terms for the Rs 500 crore employee quota, eligible employees can apply for shares of up to Rs 5 lakh. The limit and discount applicable on allotment should also be checked.

Applications can be made through ASBA or a UPI mandate. The application amount is generally blocked in the bank account and is not available for immediate spending. After shares are allotted, the required amount is debited and the rest is released. If no shares are allotted, the blocked amount is unblocked as per the rules.

The IPO is open from October 21 to 23, 2026. Before applying, investors should check the company's official documents, price band, eligibility, lot size and risk disclosures. There is no guarantee that applying will result in an allotment or a gain on listing day. The grey market premium is only an informal indicator and gives no firm indication of the eventual listing price, so investors should not rely on talk alone and should decide according to their financial capacity and the investment risk.