{"id":2758,"date":"2026-10-18T08:33:10","date_gmt":"2026-10-18T08:33:10","guid":{"rendered":"https:\/\/newsraise.com\/in\/2026\/10\/18\/jio-platforms-ipo-5g-spectrum-details\/"},"modified":"2026-10-18T08:33:10","modified_gmt":"2026-10-18T08:33:10","slug":"jio-platforms-ipo-5g-spectrum-details","status":"publish","type":"post","link":"https:\/\/newsraise.com\/in\/2026\/10\/18\/jio-platforms-ipo-5g-spectrum-details\/","title":{"rendered":"Jio Platforms IPO Targets $30,000 crore, Highlights 5G Lead and Massive Spectrum"},"content":{"rendered":"\n<!-- Quick Adsense WordPress Plugin: http:\/\/quickadsense.com\/ -->\n<div class=\"9fece8afa224fd09e54b043d0febfb58\" data-index=\"1\" style=\"float: none; margin:10px 0 10px 0; text-align:center;\">\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- NR ATF -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-8898941184964366\"\r\n     data-ad-slot=\"4839033563\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n<\/div>\n<p>Reliance Industries\u2019 digital and telecom arm, Jio Platforms, is poised to launch an initial public offering that could become the largest ever in India. The issue will be priced between \u20b91,065 and \u20b91,119 per share, and, at the top of the band, the company expects to raise roughly \u20b930,213 crore by issuing up to 27 crore fresh equity shares with a face value of \u20b910 each.<\/p>\n<h2>IPO Details and Market Sentiment<\/h2>\n<p>The subscription window is scheduled for 21\u202fOctober to 23\u202fOctober, with anchor\u2011investor bidding set for 19\u202fOctober, according to regulatory filings. Analysts note that the grey\u2011market premium (GMP) currently sits at +\u20b9235, pushing the implied listing price to about \u20b91,354 per share\u2014approximately 21\u202f% above the upper end of the price band. Over the past 15 trading sessions the GMP has moved within a \u20b987 range, showing no clear directional trend but indicating heightened investor interest.<\/p>\n<h2>Jio Platforms&#8217; Operational Scale and Financial Performance<\/h2>\n<p>Incorporated on 15\u202fNovember\u202f2019, Jio Platforms operates across digital connectivity, consumer services and enterprise technology solutions. Its flagship subsidiary, Reliance Jio Infocomm Limited (RJIL), reported a customer base of 533.3\u202fmillion as of 30\u202fJune\u202f2026, while the broader Jio Platforms ecosystem counted 284.9\u202fmillion 5G subscribers in the first quarter of FY27\u2014making it the world\u2019s third\u2011largest 5G user base.<\/p>\n<p>The total customer base grew from 482\u202fmillion in FY24 to 524\u202fmillion in FY26, reaching 533\u202fmillion in Q1\u202fFY27. Net additions were 36\u202fmillion in FY26, 6\u202fmillion in FY25 and an additional 9\u202fmillion in the first quarter of FY27. Average revenue per user (ARPU) rose from \u20b9181.7 per month in FY24 to \u20b9214 in FY26 and edged up to \u20b9215.6 in Q1\u202fFY27. Monthly churn slipped to 1.6\u202f% from 1.7\u202f% in FY26, while data traffic climbed to 241.4\u202fbillion\u202fGB in FY26 and per\u2011user monthly consumption hit 43.7\u202fGB in Q1\u202fFY27.<\/p>\n<p>Financially, the company posted consistent growth. Revenue from operations increased from \u20b91,09,558\u202fcrore in FY24 to \u20b91,46,885\u202fcrore in FY26. EBITDA rose from \u20b954,341\u202fcrore to \u20b973,382\u202fcrore over the same period, lifting the EBITDA margin to 50\u202f% in FY26 from 49.6\u202f% in FY24. Profit after tax (PAT) expanded to \u20b930,064\u202fcrore in FY26, up from \u20b921,422\u202fcrore in FY24, with the PAT margin improving to 20.5\u202f% from 19.6\u202f%. Earnings per share grew from \u20b924 in FY24 to \u20b933.6 in FY26. Return on equity reached 8.9\u202f% and return on capital employed climbed to 12\u202f% in FY26.<\/p>\n<p>In the first quarter of FY27, Jio Platforms reported revenue of \u20b939,173\u202fcrore, EBITDA of \u20b919,840\u202fcrore and PAT of \u20b97,765\u202fcrore, maintaining an EBITDA margin of 50.6\u202f% and a PAT margin of 19.8\u202f%.<\/p>\n<p>Among listed peers, Bharti Airtel trades at a price\u2011to\u2011earnings (P\/E) multiple of 40.71, while Vodafone Idea\u2019s P\/E stands at 3.99, underscoring the varied valuation landscape in India\u2019s telecom sector.<\/p>\n<h2>Technology Assets and Future Growth Prospects<\/h2>\n<p>Jio Platforms\u2019 technology footprint includes an integrated ecosystem that spans network infrastructure, device engineering, software, operating systems and digital applications. As of Q1\u202fFY27, 12,477 employees\u2014about 45\u202f% of the total workforce\u2014were dedicated to digital product and technology development. The company has filed 7,220 patent applications covering 4G, 5G, 6G, cloud\u2011native network architecture, AI\u2011led automation and related fields, with 2,655 applications in India and 4,565 overseas. In the 2025 WIPO PCT rankings, Jio was the only Indian firm among the world\u2019s top 20, highlighting its emphasis on in\u2011house R&#038;D.<\/p>\n<p>Spectrum holdings further reinforce Jio\u2019s market position. As of 30\u202fJune\u202f2026, the firm owned India\u2019s largest spectrum portfolio\u201426,800.8\u202fMHz with an average remaining life of 16\u202fyears. It is the sole Indian operator with nationwide 5G spectrum across the 700\u202fMHz, 3,300\u202fMHz and 26\u202fGHz bands, a mix that supports broad coverage, indoor penetration, mainstream 5G speeds and high\u2011capacity urban services such as JioAirFiber. This spectrum advantage has helped Jio deliver mobile broadband speeds more than twice the industry average over the past three years.<\/p>\n<p>Beyond conventional mobile services, Jio Platforms is investing in satellite broadband, 6G research, cloud\u2011native networks and AI\u2011driven automation. The company is evaluating indigenous satellite constellations and partnering with global satellite operators to extend connectivity to remote locations. Its proprietary JioBrain platform automates network capacity allocation, predicts faults and optimises performance in real time, with potential to be offered as a managed service to overseas telecom operators and enterprises.<\/p>\n<p>Under the IPO terms, anchor investors will have 50\u202f% of their allotted shares locked for 30\u202fdays and the remaining 50\u202f% locked for 90\u202fdays from the date of allotment, limiting immediate resale and providing a degree of price stability post\u2011listing.<\/p>\n<p>Overall, the upcoming Jio Platforms IPO combines a substantial capital raise, a robust subscriber base, strong financial metrics and a deep technology and spectrum moat. Investors will be watching how the grey\u2011market premium evolves and whether the final listing price aligns with the premium\u2011adjusted estimate of roughly \u20b91,354 per share.<\/p>\n\n<div style=\"font-size: 0px; height: 0px; line-height: 0px; margin: 0; padding: 0; clear: both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Jio Platforms plans to raise up to \u20b930,213 crore in its upcoming IPO, with a price band of \u20b91,065\u2011\u20b91,119 per share and a grey\u2011market premium suggesting a listing near \u20b91,354.<\/p>\n","protected":false},"author":2,"featured_media":2759,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[299],"tags":[1500,1368,3049,3050,1413],"class_list":["post-2758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-5g","tag-ipo","tag-jio-platforms","tag-reliance-industries","tag-telecom","entry"],"_links":{"self":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/posts\/2758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/comments?post=2758"}],"version-history":[{"count":0,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/posts\/2758\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/media\/2759"}],"wp:attachment":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/media?parent=2758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/categories?post=2758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/tags?post=2758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}