Jio Platforms IPO price band set at Rs 1,065 to Rs 1,119, employee discount fixed at Rs 54

Reliance Industries Ltd said the IPO Committee of Jio Platforms Ltd has approved a price band of Rs 1,065 to Rs 1,119 per equity share for the digital services company’s proposed initial public offering.

The committee also approved a discount of Rs 54 per equity share for eligible employees applying through the Employee Reservation Portion. The minimum bid lot has been fixed at 12 equity shares of face value Rs 10 each, with subsequent bids to be placed in multiples of 12 shares.

At the lower end of the price band, a minimum application in the public issue would amount to Rs 12,780. At the upper end, the minimum application value would be Rs 13,428. For eligible employees, the effective price after the stated discount would be Rs 1,011 per share at the lower end of the band and Rs 1,065 at the upper end, subject to the terms of the employee reservation category.

The disclosure follows Reliance Industries’ October 14 communication regarding Jio Platforms’ filing of its Red Herring Prospectus. The announcement does not specify the IPO size, the number of shares on offer, the issue opening and closing dates, or whether the offering will include a fresh issue, an offer for sale, or both.

The price-band announcement moves the proposed listing closer to execution and provides the first direct public reference point for investor participation in Jio Platforms, Reliance’s principal digital and telecom platform. Jio Platforms is a material subsidiary of Reliance Industries and sits within the group’s Digital Services business, which reported revenue from operations of Rs 1,31,336 crore in FY 2025-26.

The platform’s operating scale has continued to expand. In the June 2026 quarter, Jio’s customer base stood at 533.3 million after net additions of 8.9 million during the quarter. Management had said 285 million subscribers were using its 5G network as of June 2026, while monthly ARPU was Rs 215.6. The company has also been seeking to widen monetisation beyond connectivity through content, cloud, Internet of Things and managed services.

For Reliance, the planned listing comes as consumer and digital businesses account for an increasing share of the group’s earnings mix, alongside its legacy oil-to-chemicals operations. Reliance’s consolidated net sales rose 25.41 per cent year-on-year to Rs 3,11,850 crore in the June 2026 quarter, while PBIDT excluding other income increased 10.75 per cent to Rs 47,517 crore. However, quarterly profit after Tax declined 25.03 per cent year-on-year to Rs 23,001 crore.

As of 12:25 pm on October 15, 2026, Reliance Industries shares were trading at Rs 1,208.50, up 2.77 per cent from the previous close of Rs 1,175.95. The stock was about 24.1 per cent below its 52-week high of Rs 1,592.45 and around 4.3 per cent above its 52-week low of Rs 1,159.00.

Over the past year, Reliance shares have declined 14.09 per cent, compared with a 5.86 per cent fall in the BSE 500, indicating an underperformance of about 8.23 percentage points. The Jio IPO process will therefore be watched not only for the issue pricing but also for the extent to which it clarifies the standalone market value of Reliance’s digital services business.

Disclaimer: The article is for informational purposes only and not investment advice.