By ipomarket.in Editorial Team · Last reviewed: 2026-10-27
Disclaimer: This article is for informational purposes only and does not constitute investment advice. IPO investments are subject to market risks. Please read the offer document carefully and consult a SEBI-registered investment advisor before investing.
Jio Platforms Limited completed one of India's largest-ever primary market offerings this month, and the stock is set to make its stock exchange debut on October 28, 2026. The IPO closed for subscription on October 23, allotment was finalised on October 26, and shares were credited to demat accounts on October 27. This article pulls together the confirmed numbers from the offer and the latest grey market readings so you can see where things stand ahead of listing day.
The headline numbers
The issue size was Rs 30,213 crore, structured entirely as a fresh issue of 27 crore shares with no offer for sale (OFS) component. That matters because every rupee raised flows into the company rather than to selling shareholders, so the proceeds are available for business use rather than providing an exit to existing investors.
The price band was set at Rs 1,065 to Rs 1,119 per share, and the final issue price was fixed at Rs 1,119 — the upper end of the band. For retail investors, the minimum application was one lot of 12 shares, which worked out to Rs 13,428 at the upper price.
Key dates at a glance:
- Subscription window: October 21 to October 23, 2026
- Allotment finalised: October 26, 2026
- Shares credited to demat: October 27, 2026
- Listing on NSE and BSE: October 28, 2026
How the subscription broke down
The IPO was subscribed 22.19 times overall as of October 23, 2026. The demand was heavily weighted towards institutions:
- Qualified Institutional Buyers (QIBs): 70.55x
- Non-Institutional Investors (NIIs): approximately 14x
- Retail Individual Investors (RIIs): 2.72x
The gap between the QIB figure and the retail figure is worth noting. A QIB subscription above 70 times signals strong conviction from large institutional players, while the comparatively modest 2.72x retail number suggests individual investors were more measured. If you want a refresher on how these categories work and why the split matters, see our explainer on IPO subscription status by QIB, NII and retail.
What the grey market is signalling
The grey market premium (GMP) is an unofficial, unregulated indicator of what buyers are willing to pay for shares before they list. It is not an exchange price and it does not guarantee listing performance, so treat it as sentiment rather than certainty. If you are new to the concept, our guide on what IPO GMP is and how it works explains the mechanics and the limits.
According to grey market trackers, the GMP on October 27, 2026 was reportedly in the range of Rs 244 to Rs 255 per share, implying a premium of roughly 21.8% to 22.8% over the Rs 1,119 issue price. On that basis, the estimated listing price was reported at approximately Rs 1,363 to Rs 1,374 per share.
The premium has cooled slightly in the run-up to listing. Reports indicate the GMP peaked at Rs 273 per share on October 20, 2026, before easing to Rs 247 by October 26. A declining GMP in the final days before listing is common and reflects shifting sentiment, profit-booking in the grey market, and the narrowing uncertainty as the actual listing approaches. None of these grey market figures are official, and the real listing price will only be known when trading opens on October 28.
The business behind the offer
Jio is one of India's largest telecom operators. According to reports citing company data, as of June 2026 Jio had 533.3 million subscribers and accounted for approximately 60% of India's wireless data traffic. That scale is the central part of the investment case, though scale alone does not determine valuation or future returns. These operating figures are reported rather than drawn from the offer document directly, so verify them against the prospectus.
For investors weighing a listing-day decision, it helps to separate the near-term trading signal (GMP, subscription demand) from the longer-term fundamentals (subscriber growth, pricing power, competition, profitability). Our piece on listing day strategy — when to sell or hold walks through how to think about that choice without reacting purely to the grey market.
What to watch on listing day
The difference between the GMP-implied price and the actual opening price can be meaningful. A high GMP sometimes precedes a flat or discounted listing, and the reverse also happens. The only confirmed data points are the issue price of Rs 1,119, the subscription of 22.19x, and the listing date of October 28. Everything about the opening price remains an estimate until the market prints a real trade.
Allotted investors can check their status through the registrar or their broker. Our walkthrough on how to check IPO allotment status across registrars covers the steps.
FAQ
When does Jio Platforms list on the stock exchanges?
Shares are scheduled to list on both NSE and BSE on October 28, 2026. Allotment was finalised on October 26 and shares were credited to demat accounts on October 27, 2026.
What was the Jio Platforms IPO issue price?
The issue price was fixed at Rs 1,119 per share, the upper end of the Rs 1,065 to Rs 1,119 price band. The minimum retail application of 12 shares required Rs 13,428.
How much was the Jio Platforms IPO subscribed?
The IPO was subscribed 22.19 times overall as of October 23, 2026. QIBs subscribed 70.55x, NIIs about 14x, and retail investors 2.72x.
What is the grey market premium for Jio Platforms?
Grey market trackers reportedly put the GMP at Rs 244 to Rs 255 per share on October 27, 2026, implying roughly a 21.8% to 22.8% premium over the issue price. GMP is unofficial and unregulated, and does not guarantee the actual listing price.
Was there an offer for sale in the IPO?
No. The IPO was a pure fresh issue of 27 crore shares with no offer for sale component, meaning all proceeds go to the company.
Last reviewed: 2026-10-27 by the ipomarket.in Editorial Team.