Jio Platforms IPO Issue Price Fixed at ₹1,119 on October 24, 2026: Top of the Band After 22x Demand

The Jio Platforms IPO issue price is ₹1,119 a share. Reliance Industries told the exchanges late on Saturday, October 24, 2026, that its telecom and digital arm had finalised the price, anchor portion included, at that level and filed its prospectus with the Registrar of Companies in Ahmedabad, according to RIL’s filing on NSE.

No surprise there. When a book is oversubscribed more than 20 times, the top of the band is where it usually lands.

Jio Platforms IPO issue price: how it compares with the band

The price band approved on October 14 ran from a floor of ₹1,065 to a cap of ₹1,119, with a minimum bid of 12 shares, as per RIL’s price band disclosure. So the final price sits right at the cap. A few things follow from that:

• Cost of one lot: 12 shares at ₹1,119 works out to ₹13,428. Anyone who bid at the cut-off or at ₹1,119 is in the running; bids at a lower price in the band are out.
• Employee price: eligible employees get a ₹54 discount per share, which brings their price to ₹1,065.
• Issue size: the IPO is a fresh issue of up to 27 crore shares, so at ₹1,119 the company raises about ₹30,213 crore. There is no offer-for-sale, which means the money goes to Jio Platforms, not to existing shareholders.

If the mechanics of a band are hazy, our explainer on how a price band in an IPO works walks through the floor, the cap and the cut-off option.

The demand behind the price

The issue was open from October 21 to October 23. By the close, public bids added up to 22.19 times the shares on offer, The Economic Times reported, using combined NSE and BSE data. Investors sought 4.38 billion shares against 197.5 million offered, and public bids were worth ₹4.91 lakh crore at the upper end of the band. Add the anchor book, where bids crossed ₹2.5 lakh crore, and total demand came to about ₹7.41 lakh crore.

Category by category, per the same report:

• Qualified institutional buyers: 70.55 times
• Non-institutional investors: 14 times (15.89 times for bids above ₹10 lakh, 10.21 times for ₹2-10 lakh)
• RIL shareholder quota: 7.60 times
• Employees: 2.93 times
• Retail investors: 2.72 times, with bids for 231.1 million shares against 85 million reserved

Before the issue opened, Jio had allotted shares worth ₹8,109.85 crore to anchor investors, also at ₹1,119, with domestic mutual funds taking 34.34% of that anchor allocation. We covered that round in our Jio Platforms anchor investors report.

What this means for applicants

Institutions drove this book. The retail portion was covered less than three times, which is modest next to the 70-times QIB number, but it still means not every retail applicant will get the shares they asked for. RIL shareholders who also bid in the shareholder quota are in a separate pool, which was far more crowded at 7.60 times; our guide to the shareholder quota in an IPO explains how that works.

The ET report puts the listing on October 28. One point to keep in mind: the strong primary-market response came while the secondary market was weak, with the same report flagging worries over high crude prices and foreign-fund selling. A full book does not decide how the stock trades on day one.

Sources: Reliance Industries disclosure on the Jio Platforms issue price (October 24, 2026) and price band disclosure (October 14, 2026), both filed with NSE; The Economic Times, October 24, 2026.

Disclaimer: This article is for information and education only and is not investment advice. Please do your own research or consult a SEBI-registered adviser before making any investment decision.