Mumbai, Oct 14: Jio Platforms Limited, a subsidiary of Reliance Industries Limited (RIL), has fixed the price band for its initial public offering (IPO) at Rs 1,065 to Rs 1,119 per equity share. The IPO will open for subscription on October 21 and close on October 23, according to regulatory filings by RIL on Wednesday.

The IPO Committee of the Board of Directors of Jio Platforms approved the price band, with the floor price set at Rs 1,065 per share and the cap price at Rs 1,119 per share.

The company plans to issue up to 27 crore fresh equity shares of face value Rs 10 each. The bidding for anchor investors, typically large institutional investors who invest ahead of a public offering, will take place on October 19.

According to the exchange filing, the company has also reserved shares worth up to Rs 2,500 crore for eligible Reliance Industries shareholders and up to Rs 500 crore for eligible employees, providing separate reservation categories for both groups.

Eligible employees bidding under the employee reservation portion will receive a discount of Rs 54 per equity share. The minimum bid lot has been fixed at 12 equity shares, with bids to be placed in multiples of 12 shares thereafter.

In its regulatory filing, Reliance Industries stated that Jio Platforms had filed its Red Herring Prospectus (RHP), dated October 14, 2026, with the Registrar of Companies, Gujarat, at Ahmedabad.

The reservation for Reliance Industries shareholders applies to eligible individual investors and Hindu Undivided Families (HUFs) holding shares in the parent company as of October 14, 2026, the date of the RHP filing.

The IPO marks a significant step towards the public listing of Jio Platforms, which houses Reliance Industries' digital and telecommunications businesses.

The development follows the company's filing of its Draft Red Herring Prospectus (DRHP) on June 19, 2026. Reliance Industries subsequently informed the stock exchanges on August 28, 2026, that Jio Platforms had received an observation letter from the Securities and Exchange Board of India (SEBI) on its draft prospectus.

The IPO's final issue size and expected listing date have not been specified in the cited filings. (ANI)