Reliance Jio IPO
UPCOMINGMAINBOARDSEBI Observations Received
Awaiting issue details
Analysis
0 strengths · 8 risks
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SEBI Observations Received · 28 Aug 2026
Reliance Jio filed its Draft Red Herring Prospectus (DRHP) with SEBI and SEBI has issued its observations. That lets the company move to the Red Herring Prospectus. Observations are not an approval of the issue or its price. The price band, lot size and issue dates have not been announced yet.
About Reliance Jio
Use of IPO Proceeds
Promoters
Reliance Industries Limited
Pre-issue: 66.43%
Investment Analysis
Risk Factors (8)
- •Telecom licence and spectrum: the business depends on the unified licence and spectrum held by its subsidiary Reliance Jio Infocomm Limited (RJIL). The DRHP says failure to maintain or renew them, or to win spectrum in auctions, could hurt the business. The unified licence is due for renewal in October 2033 and most spectrum expires between 2041 and 2042 (DRHP pp. 29-30).
- •Network or technology disruptions could hurt service quality and raise customer churn. The DRHP cites a two-hour outage of Gujarat 5G and JioAirFiber services in Fiscal 2026 and says the company has never had a complete network outage (DRHP p. 30).
- •Dependence on agreements with the Promoter, Reliance Retail Limited and other Reliance Group entities. Prepaid plans were 77.08% of revenue from operations in Fiscal 2026 and Reliance Retail Limited is the sole distributor of prepaid (DRHP pp. 32-33).
- •Significant indebtedness and covenant risk. Outstanding fund-based borrowings were Rs 715,292 million at 31 March 2026, and the DRHP lists covenant risk on its borrowings (DRHP pp. 35-36).
- •Highly regulated business: the DRHP says non-compliance with telecom rules could lead to licence modification or penalties (DRHP p. 36).
- •Revenue growth depends on attracting and retaining customers and on sustaining average revenue per user (ARPU) (DRHP p. 38).
- •Highly competitive Indian telecom and digital services market (DRHP p. 42).
- •The Promoter, Reliance Industries Limited, holds 66.43% before the issue and will keep a substantial shareholding and significant influence after it (DRHP p. 53).
GMP Trend
GMP data will appear a few days before the IPO opens.
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IPO Timeline
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IPO Details
| Registrar | KFin Technologies Limited |
| Exchange | NSE, BSE |
| ISIN | — |
| Face Value | ₹10 |
| Issue Size | — |
| Fresh Issue | — |
| OFS Size | — |
| Lead Managers | Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, BofA Securities India Limited, Axis Capital Limited, BNP Paribas, Citigroup Global Markets India Private Limited, CLSA India Private Limited, DAM Capital Advisors Limited, Goldman Sachs (India) Securities Private Limited, HDFC Bank Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, IIFL Capital Services Limited, Jefferies India Private Limited, JM Financial Limited, J.P. Morgan India Private Limited, SBI Capital Markets Limited, UBS Securities India Private Limited, 360 ONE WAM Limited |
3-Year Financial Summary
Financial data not available yet.
Check the valuation yourself
Company Fundamentals
2 sections extracted from this filingReservations & OFS
Investor Reservation
- Anchor60.00%
- QIB50.00%
- NII / HNI15.00%
- Retail35.00%
Source: Reliance Jio offer document (DRHP/RHP).
Industry & Market
Jio is the clear market leader in fixed broadband with 42.60% market share and 77.49% market share in advanced 5G/UBR FWA segment
Per Analysys Mason Report, a report commissioned by the company (not independent).
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:KFin Technologies Limited→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
Documents
Frequently Asked Questions
When is the Reliance Jio IPO opening?
The Reliance Jio IPO dates have not yet been announced. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the Reliance Jio IPO?
The price band for the Reliance Jio IPO is not yet announced. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the Reliance Jio IPO?
The lot size and minimum investment for the Reliance Jio IPO have not been announced yet. They are set when the price band is announced.
What is the GMP of Reliance Jio IPO today?
Grey Market Premium data for Reliance Jio is not available yet. It typically starts appearing a few days before the IPO opens.
When will the Reliance Jio IPO list on NSE and BSE?
The listing date for the Reliance Jio IPO has not been announced yet. It is typically 5 to 6 working days after the subscription closes.
How can I check the Reliance Jio IPO allotment status?
The registrar for this IPO is KFin Technologies Limited. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the Reliance Jio IPO a mainboard or SME issue?
Reliance Jio is a mainboard IPO that will list on the main NSE and BSE boards. Mainboard IPOs are open to retail investors with a minimum application of one lot.
How do I apply for the Reliance Jio IPO?
Applications cannot be made yet because the Reliance Jio IPO has no announced dates. Once the issue opens, you can apply through any SEBI-registered broker using UPI or ASBA while it is open for bidding.
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