Got Shares Or Refund? What To Do Before Wednesday’s 10 AM Debut

Jio Platforms enters its stock market debut on the back of double-digit growth across key financial lines. Revenue from operations climbed about 14% to ₹1.46 lakh crore in FY26, up from ₹1.28 lakh crore in FY25. Net profit increased roughly 15% to ₹30,049 crore from ₹26,109 crore. EBITDA grew faster at nearly 19%, reaching ₹76,255 crore against ₹64,170 crore a year earlier, which puts the operating margin at around 52%. At the IPO’s implied valuation of ₹10.3 lakh crore, the company is priced at about 34 times its FY26 earnings. Telecom remains the main source of revenue, though the company is pitching broadband, enterprise services, cloud and AI as its next growth engines.

Reliance Jio Infocomm, the telecom arm of Jio Platforms, served about 53.33 crore customers as of June 30, 2026, according to the IPO documents. Average revenue per user improved from ₹181.7 in FY24 to ₹214 in FY26, a gain of nearly 18%, and rose further to ₹215.6 in the June 2026 quarter. Higher tariffs, users upgrading to costlier plans and wider broadband adoption have supported the increase. The company’s wireless broadband now reaches over 99% of India’s population. Its network includes pan-India 4G and 5G coverage, fibre links to more than 1,200 facilities and over 100 edge nodes. Jio employs 27,932 full-time staff along with 63,795 contract workers.

Jio Platforms raised about ₹8,110 crore from anchor investors on October 19, two days before its public issue opened for bidding. The anchor book drew a mix of domestic and global institutions, including Life Insurance Corporation of India, BlackRock and Fidelity. Shares were allotted to 212 anchor investors at ₹1,119 each, the top of the price band. Demand in this round far exceeded supply, with bids worth around ₹2.5 lakh crore, more than 30 times the shares reserved. Anchor investors cannot sell immediately after listing because their holdings come with a mandatory lock-in, which helps limit selling pressure in the stock’s early trading days on BSE and NSE.

Applicants who do not receive shares should have their money released on Tuesday, October 27, 2026. Most IPO bids are placed through ASBA or UPI, where funds are blocked in the investor’s bank account rather than withdrawn. In those cases, the block is lifted and the amount becomes available again, instead of a separate refund being sent. Partial allottees will see the unused portion of their blocked amount released on the same day.

The Jio Platforms IPO opened for public bidding on Wednesday, October 21, 2026, and closed on Friday, October 23. Tuesday, October 20, was a market holiday for Dussehra. The price band was set at ₹1,065 to ₹1,119 per share. Demand built quickly, with the issue fully covered within about 100 minutes of opening on day one, the fastest for any large Indian IPO. Subscription climbed to 3.16 times on day one and 5.57 times by the end of day two before closing at 22.19 times.

Retail investors applied for more than 23 crore shares against roughly 8.5 crore reserved for them. Because the category was oversubscribed nearly three times, allotment will be decided by lottery, and many small applicants may get nothing. Investors can check their status on the KFin Technologies, NSE and BSE websites once results are published.

Jio Platforms has fixed its issue price at ₹1,119 per share, the upper end of its ₹1,065 to ₹1,119 range, after the offer was subscribed about 22 times. At that price, the company is valued at roughly ₹10.3 lakh crore heading into its stock market debut on Wednesday, October 28. Reports put the final issue size at ₹30,188 crore.

KFin Technologies is the registrar for the issue. To check your status: Click “Submit”, Go to ipostatus.kfintech.com, Choose “Jio Platforms Ltd” from the list of IPOs, Enter your PAN, application number or demat account number

Jio Platforms will finalise share allotment today, Monday, October 26. Investors who bid in the ₹30,213 crore IPO should be able to see their status on the KFin Technologies, NSE and BSE websites later tonight. The stock is scheduled to debut on the exchanges on Wednesday, October 28.