Jio IPO: How to Apply Online — UPI/ASBA Steps & Dates
India's biggest-ever IPO is three days away. Jio Platforms' ₹30,213 crore fresh issue — the largest public issue in Indian stock market history — opens for subscription on October 21 and closes on October 23, with anchor bidding on October 19. If you plan to apply, this guide covers everything you need: the price band and lot size, the two online application routes (UPI and ASBA), the RIL shareholder quota rules, and the full timeline.
Jio IPO details at a glance
| Particulars | Details |
|---|---|
| Company | Jio Platforms Limited (Reliance Industries' telecom & digital arm) |
| Issue type | 100% fresh issue — up to 27 crore shares, no offer for sale |
| Issue size | ~₹30,213 crore at the upper price band |
| Price band | ₹1,065 – ₹1,119 per share (face value ₹10) |
| Lot size | 12 shares |
| Minimum investment | ₹13,428 (1 lot at the upper band) |
| Anchor bidding | October 19, 2026 |
| Public subscription | October 21 – 23, 2026 |
| Employee discount | ₹54 per share (employee reservation ₹500 crore) |
| Shareholder quota | ₹2,500 crore reserved for RIL shareholders (record date: October 14) |
| Registrar | KFin Technologies |
| Listing | October 28, 2026 (tentative) on NSE & BSE |
| Grey market premium | ~₹235 (+21%, unofficial, as of October 18 — subject to change) |
Who can apply for the Jio IPO?
- Retail investors: any resident Indian with a PAN-linked demat account. Retail applications are capped at ₹2 lakh per application.
- RIL shareholders: a ₹2,500 crore reservation exists for eligible individual and HUF shareholders of Reliance Industries — but the record date (October 14, the RHP filing date) has already passed, so buying RIL shares now does not qualify you for this quota.
- Employees: eligible Jio Platforms employees get a ₹54-per-share discount under the employee reservation portion.
Jio IPO lot size — how much can you apply for?
One lot is 12 shares. At the upper band of ₹1,119, one lot costs ₹13,428. Retail investors can bid at the cut-off price — meaning you agree to pay the final discovered price within the band, without picking a price yourself. Here is the math at the upper band:
| Lots | Shares | Amount (₹) |
|---|---|---|
| 1 | 12 | 13,428 |
| 2 | 24 | 26,856 |
| 5 | 60 | 67,140 |
| 10 | 120 | 1,34,280 |
| 14 (retail max) | 168 | 1,87,992 |
Retail is capped at ₹2 lakh per application, which works out to a maximum of 14 lots (168 shares, ₹1,87,992 at the upper band). Bidding above ₹2 lakh moves you into the HNI (non-institutional) category.
How to apply for the Jio IPO online — step by step
Option 1: UPI through your broker app (easiest for most investors)
- During October 21–23, log in to your broker app (Zerodha, Upstox, Groww, Dhan, etc.) and open the Jio Platforms IPO order page.
- Enter the quantity in multiples of 12 shares (1 lot = 12) and select cut-off price.
- Enter your UPI ID — it must be linked to the bank account that will fund the application.
- Submit the application. You will receive a UPI mandate collect request on your phone (UPI IPO applications are allowed up to ₹5 lakh).
- Approve the mandate in your UPI app (GPay, PhonePe, Paytm, BHIM) before it expires. The amount is only blocked, not debited.
- When allotment is finalised (expected October 26), money is debited only for the shares allotted to you; the blocked remainder is released automatically.
Option 2: ASBA through net banking
- Log in to your bank's net banking and look for the IPO / ASBA section (available at most major banks).
- Select the Jio Platforms IPO, enter your demat account details, quantity (multiples of 12) and bid price (or cut-off).
- Confirm — the application amount is blocked in your bank account under ASBA (Application Supported by Blocked Amount).
Option 3: Physical application form
You can also submit a paper application form at your broker's office or a designated bank branch, but the online UPI/ASBA routes are faster and leave an audit trail.
Important: one PAN gets one application. Multiple applications using the same PAN — even across different brokers or the retail and shareholder categories — will all be rejected.
Jio IPO key dates
| Event | Date |
|---|---|
| Anchor investor bidding | October 19, 2026 |
| IPO opens | October 21, 2026 |
| IPO closes | October 23, 2026 |
| Basis of allotment (expected) | October 26, 2026 |
| Refunds / demat credit (expected) | October 27, 2026 |
| Listing (tentative) | October 28, 2026 |
Common mistakes to avoid
- Missing the UPI mandate approval — your application is incomplete until you approve the collect request in your UPI app.
- Entering the wrong UPI ID — it must belong to a bank account in your own name.
- Multiple applications on one PAN — all get rejected.
- Waiting until the last hour on October 23 — bidding typically closes at 5 PM; server congestion is common on final days.
- Insufficient balance — keep the full application amount available in the linked account when you approve the mandate.
- Bidding below cut-off as a retail investor — there is rarely a reason to; cut-off keeps it simple.
Grey market premium (unofficial)
Jio Platforms' GMP was quoted around ₹235 (~21% over the upper band) on the morning of October 18, up from ~₹221 earlier in the week. Grey market premiums are unofficial, unregulated market quotes — they signal sentiment, not a guaranteed listing price, and they can move sharply. For the full pre-issue picture, see our Jio IPO price band, lot size and GMP preview and the RHP filing breakdown. Paras Healthcare's ₹1,450 crore IPO opens in the same October 21–23 window.
FAQs
What is the minimum investment in the Jio IPO?
₹13,428 — one lot of 12 shares at the upper price band of ₹1,119.
Can I apply in the RIL shareholder quota if I buy Reliance shares today?
No. The record date was October 14, 2026 (the RHP filing date). Only those holding RIL shares as of that date qualify for the ₹2,500 crore shareholder reservation.
What does "cut-off price" mean in IPO bidding?
Retail investors can bid at cut-off, which means they agree to pay the final price discovered within the ₹1,065–1,119 band, instead of choosing a specific price.
How many lots can a retail investor apply for?
Retail applications are capped at ₹2 lakh, which works out to a maximum of 14 lots (168 shares, ₹1,87,992 at the upper band).
Is the money debited immediately when I apply?
No. Under both UPI and ASBA, the amount is only blocked. It is debited only for shares actually allotted; the rest is released automatically.
When will Jio Platforms shares list?
The tentative listing date is October 28, 2026, on the NSE and BSE.
Conclusion
The Jio IPO is the most consequential primary-market event of 2026 — a ₹30,213 crore pure fresh issue that will test retail appetite at a ₹1,065–1,119 band. Applying is straightforward: keep your PAN-linked demat and UPI ready, bid in multiples of 12 shares at cut-off during October 21–23, and approve the UPI mandate promptly. Allotment is expected on October 26, with listing on October 28. Track the latest Jio IPO GMP and subscription updates on IPOlist.in through the week.