Jio Platforms' initial public offering moves to its final steps this week, according to two Upstox reports of 26 October 2026. The basis of allotment was expected to be finalised on Monday evening, refunds and demat credits are due on 27 October, and the shares are due to list on 28 October at 10 am on NSE and BSE. Spectate Media has not seen the allotment or exchange notices and relies on the Upstox reports, which did not yet carry the final allotment status.
The issue
The offer is entirely a fresh issue of 27 crore equity shares, with no offer for sale. Anchor investors were allotted shares at the upper end of a ₹1,119 price band, and 27 crore shares at that price equals ₹30,213 crore. The anchor round raised about ₹8,110 crore from 212 investors on 19 October. Up to ₹27,500 crore of the fresh issue proceeds is meant to repay borrowings at Reliance Jio Infocomm, with the rest for general corporate purposes. KFin Technologies is the platform for checking allotment status, and the lot size is 12 shares.
How demand split
The issue was subscribed 22.19 times overall, with about 1.39 crore applications. Qualified institutional buyers bid 70.55 times their quota, non-institutional investors 14 times and retail investors 2.72 times. The category figures in the reports do not add up to the reserved total, and the reports do not explain the gap, so the figures are quoted as reported. One report says demand across the anchor and public portions exceeded ₹7.4 lakh crore.
What to check
The reports put refunds for those not allotted shares and demat credit for allottees on 27 October. Neither gives a grey market premium, and Spectate Media has not used unofficial premium estimates.
Key numbers
- Issue size: ₹30,213 crore (27 crore fresh shares at ₹1,119)
- Overall subscription: 22.19 times (About 1.39 crore applications)
- QIB subscription: 70.55 times (NII 14 times)
- Listing: 28 October, 10 am (NSE and BSE)
What boards and CFOs should note
Three points. First, retail demand of 2.72 times was far below institutional demand, so allotment odds were better for retail applicants than for the other categories. Second, most of the proceeds go to repaying group borrowings rather than funding new capacity. Third, listing day price moves are not investment advice, and the allotment status should be read on the exchange or registrar site. Not investment advice.
Source: Upstox, 26 October 2026. This is a summary of a news report, published as general information. It is not legal, tax or investment advice.
This article is journalism and commentary. It is not a recommendation to buy or sell any security, and it is not professional advice. Read the full disclaimer.
