Jio Platforms sets ₹1,065-₹1,119 IPO price band

Jio Platforms set a ₹1,065-to-₹1,119 per-share IPO price band for an Oct. 21 opening, Times Now News reported Oct. 15, citing company details and an exchange filing.

The sale asks investors to weigh up to 270 million fresh equity shares against Jio Platforms' pitch of 15.8% three-year revenue CAGR, delivered at an Oct. 15 IPO press conference.

Managing Director Akash Mukesh Ambani said Jio plans to move toward 6G, or sixth-generation wireless technology, without a fresh physical network build. “Jio’s first mission is to democratize technology to benefit Indians. 6G is on our horizon.

What this really means is that we will do 6G as a software upgrade rather than a new infrastructure build-out,” Ambani said.

Ambani said Jio's network has more than 360,000 towers, over 1 million route kilometres of fibre and what the company calls the industry's largest spectrum bank. He said Jio has 53 crore users, using the Indian unit equal to 10 million.

The company also tied its network claims to usage metrics. Ambani said customers use an average of 43.7 GB each month and receive download speeds near 200 Mbps. “Our pricing per GB stands at the lowest anywhere else in the world at almost Rs 5, Rs 4.9 per GB, and this is on usage,” Ambani said.

Ambani said Jio Platforms' revenue rose to more than ₹1,46,000 crore from ₹1,09,000 crore over three years. He said earnings before interest, taxes, depreciation and amortisation exceeded ₹76,000 crore, while the first-quarter EBITDA margin reached 53.3%.

The exchange filing cited by Times Now said Jio Platforms reserved up to ₹2,500 crore of shares for eligible Reliance Industries shareholders and up to ₹500 crore for employees. Employees bidding under the reserved category will receive a ₹54 discount per share. The minimum application is 12 shares.

Ambani identified mobility, home broadband, enterprise services and international monetisation of Jio's proprietary technology stack as growth areas. In mobility, he cited a potential market of 340 million users, including 100 million first-time mobile users and 240 million subscribers who may shift from 2G networks.

Jio also plans to expand home broadband reach to 100 million households from 30 million, according to the report. Ambani said right-of-way permissions and other infrastructure issues can hinder physical fibre rollout. He said Jio's in-house wireless broadband product, which uses unlicensed spectrum, accounts for 40% of new additions.

The software-led 6G plan remains a company projection. The Times Now report did not include an independent technical assessment, regulatory timetable or commercial launch date for 6G services. It also did not give a market valuation for the IPO.

Ambani said Jio wants to take its internal technology and intellectual property to overseas telecom partners. He said the engineering team has filed 7,220 patents. “What we think is the end-to-end technology stack that we've created, deployed, and operate gives us the ability to partner with telecom partners across the world and really do this in a CAPEX-light manner,” Ambani said.

Anchor investor bidding is scheduled for Oct. 19, according to the exchange filing cited by Times Now.

The IPO is scheduled to open for subscription on Oct. 21 and close on Oct. 23.

The filing cited by Times Now set the minimum application lot at 12 shares, with further bids in multiples of 12.

Source: news report, Times Now News, Oct. 15, 2026