Jio IPO RHP Filed: India's Biggest IPO Opens Oct 21–23
Reliance Industries' digital and telecom arm Jio Platforms has filed its Red Herring Prospectus (RHP) for what is set to become India's biggest-ever initial public offering, Reliance Industries said in an exchange filing on Wednesday, October 14, 2026.
The RHP, dated October 14, was filed with the Registrar of Companies, Gujarat, at Ahmedabad. With the filing, the final countdown to the roughly ₹30,200 crore public issue has begun — the mega IPO will open for subscription on October 21 and close on October 23, with anchor investor bidding on October 19.
Jio IPO: Confirmed Key Dates
| Event | Date |
|---|---|
| RHP filed | October 14, 2026 |
| Anchor investor bidding | October 19, 2026 |
| IPO opens | October 21, 2026 |
| IPO closes | October 23, 2026 |
| Allotment finalisation | Tentative — Oct 27, 2026 |
| Listing (NSE + BSE) | Tentative — Oct 28, 2026 |
Listing and allotment dates are tentative pending official confirmation in the final offer documents.
Jio IPO: Issue Structure at a Glance
| Parameter | Details |
|---|---|
| Issue type | Pure fresh issue (no offer-for-sale) |
| Shares offered | Up to 27 crore equity shares (₹10 face value) |
| Issue size | ~₹30,213 crore at the top end of the reported band |
| Reported price band | ₹1,065–₹1,119 (media-reported) |
| Reported lot size | ~12 shares (media-reported) |
| Employee reservation | Up to ₹500 crore |
| RIL shareholder reservation | Up to ₹2,500 crore |
| Use of proceeds | Up to ₹27,500 crore for RJIL debt repayment; rest for general corporate purposes (media-reported) |
| Exchanges | NSE + BSE |
The offering is structured entirely as a fresh issue — neither promoter Reliance Industries nor financial backers such as Meta Platforms and Google are selling any shares. The price band of ₹1,065–₹1,119 per share, reported by Bloomberg and ET earlier this week, implies a valuation of roughly ₹10.3–10.4 lakh crore. Read our earlier breakdown of the Jio IPO price band announcement and the Jio Platforms IPO details from the DRHP.
RIL Shareholder Quota: Who Qualifies?
The RHP filing confirms two special reservations:
- Employees: shares worth up to ₹500 crore reserved for eligible employees.
- RIL shareholders: shares worth up to ₹2,500 crore reserved for eligible public shareholders of Reliance Industries — roughly a 10% allocation for the parent's investors.
Record date is October 14, 2026. Individuals and Hindu Undivided Families (HUFs) who hold RIL shares as of Wednesday, October 14 qualify for the shareholders' quota, subject to eligibility conditions in the RHP. Media reports add that investors buying RIL shares on or after the RHP filing date may not be eligible — existing RIL holders effectively had to be in the stock a day early.
Jio IPO GMP Today (Unofficial)
Grey market activity turned highly bullish on the RHP news. Market observers put the Jio Platforms IPO GMP at ₹210–₹220 per share on October 14 — around 19–20% over the reported upper band, implying an unofficial listing price near ₹1,330–1,340. Individual trackers quote slightly different figures (₹218–₹224), which is normal — GMP is an unofficial, unregulated market quote, varies across platforms, and does not guarantee listing gains.
Why the RHP Filing Matters
- India's biggest IPO ever: at ~₹30,200 crore, it will surpass Hyundai Motor India's 2024 issue (roughly ₹28,000 crore). At the reported valuation, Jio Platforms would list as India's fourth-largest company by market cap, behind RIL, Bharti Airtel and HDFC Bank.
- Reliance returns to the primary market after ~20 years: the group's last IPO was Reliance Petroleum in April 2006 (₹8,100 crore). Jio Financial Services came via demerger listing, not a fresh issue.
- Anchor book in focus: earlier reports said the anchor book could draw bids exceeding $20 billion — the October 19 anchor round will set the tone for institutional demand.
Evening Subscription Recap: HD Fire Protect Day 2 at ~16x
While Jio grabbed the headlines, Day 2 bidding for HD Fire Protect picked up strongly. As of 4:44 PM on October 14, the ₹712.31 crore issue was subscribed 16.18 times overall:
| Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | 1.49x |
| High Net-worth Individuals (HNI) | 47.62x (bHNI 49.42x, sHNI 44.04x) |
| Retail Individual Investors | 11.17x |
| Employees | 7.80x |
| Total | 16.18x |
Retail bids alone covered roughly 11 times the retail quota, with about 17.1 lakh applications — bids worth roughly ₹8,077 crore against the ₹499 crore on offer. The issue closes October 15; allotment is expected October 16 and listing October 21. The GMP stands near ₹90 (~33%, unofficial). Full Day 1 details are in our HD Fire Protect Day 1 subscription report.
Fusion CX Day 1 Ends Muted; Ravita and Vaibhav Trail
| IPO | Day | QIB | NII | Retail | Total |
|---|---|---|---|---|---|
| Fusion CX (₹702 cr, closes Oct 16) | Day 1 | 0x | 0.34x | 1.35x | 0.34x |
| Ravita Engineering (SME, closes Oct 16) | Day 1 | 1.05x | 0.60x | 0.76x | 0.81x |
| Vaibhav Vyapaar (SME, closes Oct 15) | Day 2 | 0x | 0.19x | 0.38x | 0.23x |
Fusion CX closed Day 1 at just 0.34x — retail demand carried the issue at 1.35x while institutions stayed on the sidelines, a pattern typical of Day 1 bidding. Its grey market premium holds near ₹35 (~12%, unofficial). See our Fusion CX IPO review (price band, dates, GMP) for the full issue breakdown.
Tomorrow: Five IPOs Open on October 15
Thursday brings the week's biggest wave: Tonbo Imaging, Bonfiglioli Transmissions, Zetwerk, Sahajanand Medical and one more open for subscription (October 15–19), while HD Fire Protect and Vaibhav Vyapaar close. Tonbo leads grey market chatter at roughly ₹460–500 premium (~66–71%, unofficial). Our weekly IPO roundup has all eight issues' dates, sizes and GMPs — plus detailed previews of Zetwerk, Tonbo Imaging, Bonfiglioli Transmissions and Sahajanand Medical.
FAQs
When does the Jio IPO open?
The Jio Platforms IPO opens for public subscription on October 21, 2026 and closes on October 23, 2026, per the RHP filed on October 14. Anchor investor bidding is on October 19. Listing is tentatively expected around October 28.
What is the Jio IPO price band?
The price band is reported at ₹1,065–₹1,119 per share (media-reported; confirm against the official RHP/offer documents). The issue is a pure fresh issue of up to 27 crore shares (~₹30,213 crore), making it India's biggest IPO.
How do I get the Jio IPO shareholder quota?
Shares worth up to ₹2,500 crore are reserved for eligible public shareholders of Reliance Industries. The record date was October 14, 2026 — individuals and HUFs holding RIL shares as of that date may qualify, subject to the RHP's eligibility conditions.
What is the Jio IPO GMP today?
Market observers put the Jio IPO GMP at roughly ₹210–₹220 on October 14 (~19–20% over the reported upper band). GMP is unofficial and does not guarantee listing gains.
What was HD Fire Protect's Day 2 subscription?
HD Fire Protect closed Day 2 (October 14) at ~16.18x overall — HNI at 47.62x, retail at 11.17x, QIB at 1.49x. The issue closes October 15 and lists October 21.
Conclusion
The Jio Platforms RHP filing officially starts the countdown to India's biggest IPO — with October 21–23 as the subscription window, a ₹2,500 crore carve-out for RIL shareholders, and an anchor book on October 19 that will set the tone. Meanwhile, the live primary market stays hot: HD Fire Protect's ~16x Day 2 shows HNI and retail appetite is intact, and tomorrow's five-IPO wave — led by Tonbo and Bonfiglioli — makes Thursday the busiest subscription day of the month. Check back tomorrow morning for the Day 3/final subscription figures and GMP updates.