Two facts decide whether a Reliance Industries (RIL) shareholder can use the reservation in the Jio Platforms IPO.
First, eligibility is fixed on the date the Red Herring Prospectus (RHP) is filed with the Registrar of Companies, not today and not the DRHP date. The DRHP defines an Eligible RIL Shareholder as an individual or HUF who is a public equity shareholder of RIL "as on the date of the filing of the Red Herring Prospectus" (DRHP p. 12). The RHP has not been filed yet, so that date is unknown.
Second, an eligible shareholder who bids in the reservation can also bid in the retail or non-institutional category, and those bids "shall not be considered as multiple Bids, subject to applicable limits" (DRHP p. 65).
Jio Platforms Limited filed its Draft Red Herring Prospectus with SEBI on 19 June 2026, and on 28 August 2026 Reliance Industries told the exchanges that Jio Platforms had received SEBI's observation letter (RIL disclosure on NSE). Observations are not an approval of the issue or its terms. This article summarises what that document says about the RIL Shareholders Reservation Portion. It is a reading of the DRHP, not a prediction of the final terms. For the wider picture see our Jio Platforms pre-IPO page and the Reliance Jio IPO page.
What the DRHP says about the reservation
The issue is a fresh issue of up to 270,000,000 equity shares of face value ₹10 (DRHP p. 64). Part of it is reserved for Eligible Employees and part for Eligible RIL Shareholders. The DRHP leaves the size of both reservations blank, as it does the price band (pp. 64, 467). The issue less these two reservations is the Net Issue, split as not more than 50% to QIBs, not less than 15% to non-institutional investors and not less than 35% to retail investors (p. 467).
Who counts as eligible:
- Individuals and HUFs only. Companies, trusts and other holders do not fit the definition (p. 12).
- The person must hold RIL shares on the RHP filing date (pp. 12, 481).
- For joint holders, the first bidder must be the eligible shareholder (p. 481).
How bidding works in this category
- The maximum bid is ₹200,000 (pp. 14, 469, 488).
- The minimum bid and bid lot are blank in the DRHP (p. 481).
- Bids can be made at the cut-off price if the bid amount is up to ₹200,000, and only bids at or above the issue price are considered (pp. 481, 482).
- Bids go through ASBA, and UPI is allowed (pp. 469, 482).
- The shareholder needs a valid PAN, updated in RIL's register of members or in the depository records of RIL shares, and a valid demat account to receive shares (p. 482).
- Bids can be revised and withdrawn until the bid closing date. Bids from this category are accepted until 5.00 p.m. IST on the closing day, unless the exchanges extend it (pp. 476, 485, 489).
How it interacts with the retail category
Retail bids are capped at ₹200,000 per bidder (p. 469). The DRHP says a shareholder bidding in the reservation can also bid in the retail or non-institutional portion, and in the employee portion if eligible, without those bids being treated as multiple bids (pp. 65, 471, 481). The qualifier is "subject to applicable limits". The DRHP does not state a combined cap across categories, so we do not add the limits together. The company also reserves the right to reject multiple bids "in its absolute discretion" (p. 482). The exact position will be clearer in the RHP.
Allotment and unsubscribed shares
If demand in the reservation is at or below its size, the DRHP says every eligible bidder is allotted to the extent of their demand. If demand is higher, allotment is proportionate (p. 482). Any unsubscribed part can move to the employee portion, and then to the retail and non-institutional portions in a 70:30 ratio (pp. 65, 482). To see how the other categories work, read our guide to IPO investor categories.
What the DRHP does not say
The size of the reservation, the price band, the bid lot, the bid dates, the RHP filing date and any discount for shareholders are not in the DRHP. A text search for "discount" finds no shareholder discount. Terms may change between the DRHP and the RHP.
FAQ
Who is an Eligible RIL Shareholder in the Jio IPO?
An individual or HUF that is a public equity shareholder of Reliance Industries Limited on the date the RHP is filed with the RoC (DRHP p. 12).
Can I buy RIL shares now to qualify?
The DRHP fixes eligibility on the RHP filing date, which has not been announced. It does not give any other cut-off or record date. The date will be known when the RHP is filed. This is a description of the document, not advice.
What is the maximum bid in the RIL shareholders category?
₹200,000 per eligible shareholder (DRHP pp. 14, 469).
Can an eligible RIL shareholder also bid in the retail category?
The DRHP says such bids are not treated as multiple bids, subject to applicable limits (p. 65). It states no combined limit.
Is there a discount for RIL shareholders?
The DRHP does not mention one.
Source: Jio Platforms Limited, Draft Red Herring Prospectus dated 19 June 2026, as published by SEBI. Page numbers refer to that document. Terms can change in the Red Herring Prospectus. This article is for information and is not investment advice. Read the offer document before making any decision. Investments in securities are subject to market risk.