Jio Platforms Limited plans to open its initial public offering Oct. 21, while an unofficial ₹252-a-share grey-market premium draws attention to a trading price that remains unknown.
InvestorGain listed the ₹252 quote on Oct. 20. Adding it to the top of Jio’s ₹1,065-to-₹1,119 bid range gives an illustrative ₹1,371 a share, or 22.52% above the ceiling. The quote is unofficial, and Jio’s prospectus cautions that the offer price provides no assurance about the price after listing.
Jio is offering up to 270 million new shares. The minimum bid is 12 shares, which would cost ₹13,428 at the upper end of the range. Neither the final issue price nor a trading price has been established.
At ₹1,119, Jio’s price notice calculates a price-to-earnings ratio of 33.31 times fiscal 2026 diluted earnings. Its stated peer average of 22.35 times covers only Bharti Airtel Limited and Vodafone Idea Limited. The notice says Vodafone Idea’s 3.99-times figure reflects profit that includes exceptional items; without those items, its ratio is not comparable. That leaves Bharti Airtel’s 40.71-times figure as the remaining peer comparison.
Reliance Jio Infocomm Limited, Jio’s telecom subsidiary, served 533.3 million customers in India as of June 30 and generated 87.74% of the group’s revenue from operations in fiscal 2026. The prospectus identifies telecom licence and spectrum renewals as risks. It also says Reliance Retail Limited is the sole distributor of prepaid connectivity services.
Jio intends to use the net proceeds to repay certain borrowings of its telecom subsidiary and for general corporate purposes. Reliance Industries Limited, Jio’s promoter, is not selling shares. Issuing new shares would reduce existing holders’ percentage stakes.
Bidding is scheduled to close Oct. 23. Jio’s indicative timetable places allotment on or about Oct. 26 and the start of trading on BSE Limited and the National Stock Exchange of India Limited on or about Oct. 28.
