# Jio Platforms Ltd: IPO analysis > Jio Platforms Ltd (CIN U72900GJ2019PLC110816) has filed a Red Herring Prospectus with SEBI for an IPO comprising a fresh issue of 27,00,00,000 shares, priced at ₹1,065.00 to ₹1,119.00 per share. In FY26 it reported revenue of ₹1,46,885 Cr (+14.6% on FY25) and a net profit of ₹30,053 Cr. Promoters hold 66.4% before the IPO. Our fact-check of its claims found no medium or high concerns across 63 claims checked. - Page: https://ipo.innerkore.com/company/U72900GJ2019PLC110816/jio-platforms-ltd/ - CIN: U72900GJ2019PLC110816 - Last updated: 15 Oct 2026 ## Key facts - **Company:** Jio Platforms Ltd - **CIN:** U72900GJ2019PLC110816 - **Filing stage:** RHP - **Latest SEBI filing:** 15 Oct 2026 - **Price band:** ₹1,065.00 to ₹1,119.00 per share - **Bidding opens:** 21 Oct 2026 - **Bidding closes:** 23 Oct 2026 - **Listing on:** BSE, NSE - **Revenue FY26:** ₹1,46,885 Cr - **Revenue growth:** +14.6% - **Net profit FY26:** ₹30,053 Cr - **Revenue CAGR FY24 to FY26:** 15.8% - **Promoter holding (pre-IPO):** 66.4% - **Lead managers:** Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, BofA Securities India Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited, CLSA India Private Limited, DAM Capital Advisors Limited, HDFC Bank Limited, ICICI Securities Limited, IIFL Capital Services Limited, IIFL Securities Limited, Jefferies India Private Limited, JM Financial Limited, J.P. Morgan India Private Limited, SBI Capital Markets Limited, UBS Securities India Private Limited, ONE WAM Limited - **Registrar:** KFin Technologies Limited - **Fact-check flags:** 0 high, 0 medium, 0 low ## Key signals (read from the filing; not investment advice) - **Valuation** (look closer): 34.3x P/E. From NSE's price band, on FY26 profit; 1.9x book value. - **Growth** (look closer): 15.8% a year. Sales FY24 to FY26; latest year +14.6%. - **Profitability** (looks fine): 20.5% net margin. FY26; operating margin steady. - **Debt** (looks fine): 0.13x equity. ₹70,781 crore borrowed at the end of FY26. - **Profit into cash** (looks fine): 258% of profit. Operations brought in ₹77,556 crore against ₹30,053 crore of profit in FY26. - **One-off income** (looks fine): 7% of profit. Other and one-off income is 7% of pre-tax profit. - **Where the money goes** (looks fine): All new money. 100% is new shares issued by the company. 100% of the new money repays debt. (converted using NSE's price band) - **Red flags** (looks fine): None serious. 63 claims checked: 0 high, 0 medium concern. ## Financial snapshot (₹ crore unless stated; consolidated) | | FY24 | FY25 | 3M Jun-25 | FY26 | 3M Jun-26 | |---|---:|---:|---:|---:|---:| | Sales | 1,09,558 | 1,28,218 | 35,032 | 1,46,885 | 39,173 | | Sales growth | – | 17.0% | – | 14.6% | – | | Operating profit | 54,341 | 63,055 | 17,481 | 73,382 | 19,840 | | Operating margin | 49.6% | 49.2% | 49.9% | 50.0% | 50.7% | | Net profit | 21,434 | 26,120 | 7,110 | 30,053 | 7,764 | | Net margin | 19.6% | 20.4% | 20.3% | 20.5% | 19.8% | | Net worth | 4,66,888 | 5,00,919 | 5,18,151 | 5,45,814 | 5,53,495 | | Borrowings | 54,349 | 73,060 | 72,819 | 70,781 | 61,372 | | Return on equity | 4.6% | 5.2% | – | 5.5% | – | ## Use of proceeds (fresh issue) - Prepayment, in full or in part, of certain outstanding borrowings availed by the Material Subsidiary, RJIL: ₹27,500 crore - General corporate purposes*: amount not fixed yet ## Fact-checked claims - **NONE** (PromoterBackground): Sitting fees paid to Mr. Anant Mukesh Ambani for Fiscal 2026 was ₹7,00,000.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that sitting fees paid to Mr. Anant Mukesh Ambani for Fiscal 2026 was ₹7,00,000. - **NONE** (PromoterBackground): Sitting fees paid to Ms. Isha Mukesh Ambani for Fiscal 2026 was ₹7,00,000.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that sitting fees paid to Ms. Isha Mukesh Ambani for Fiscal 2026 was ₹7,00,000. - **NONE** (PromoterBackground): Sitting fees paid to Mr. Mukesh Dhirubhai Ambani for Fiscal 2026 was ₹5,00,000.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that sitting fees paid to Mr. Mukesh Dhirubhai Ambani for Fiscal 2026 was ₹5,00,000. - **NONE** (PromoterBackground): The gross remuneration received by Mr. Akash Mukesh Ambani for Fiscal 2026 from the Company was ₹10.80 Crore.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about the gross remuneration received by Mr. Akash Mukesh Ambani for Fiscal 2026 from Jio Platforms Ltd. - **NONE** (PromoterBackground): Mr. Akash Mukesh Ambani is entitled to remuneration and other benefits, including a salary in the range of ₹10.00 Crore to ₹20.00 Crore per annum, for Fiscal 2026.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about Mr. Akash Mukesh Ambani's remuneration for Fiscal 2026. - **NONE** (PromoterBackground): A large number of wholly owned subsidiaries are listed under the Promoter Group, including entities like Reliance Chemicals and Materials Limited and Reliance New Energy Limited.. No current web search results were found to corroborate or contradict the claim regarding the listing of wholly owned subsidiaries like Reliance Chemicals and Materials Limited and Reliance New Energy Limited under the Promoter Group of Jio Platforms Ltd. - **NONE** (PromoterBackground): RIL was originally incorporated as “Mynylon Limited” under the Companies Act, 1956, and subsequently changed its name multiple times.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that RIL was originally incorporated as “Mynylon Limited” under the Companies Act, 1956 and subsequently changed its name multiple times. - **NONE** (SubsidiaryPerformance): The company has entered into a 30-year fibre and duct use agreement with Jio Digital Fibre Private Limited for the use of optic fibres and duct network.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that the company has entered into a 30-year fibre and duct use agreement with Jio Digital Fibre Private Limited. - **NONE** (SubsidiaryPerformance): The company has entered into a 30-year master services agreement with Summit Digitel Infrastructure Limited for passive telecommunications infrastructure.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that Jio Platforms Ltd has entered into a 30-year master services agreement with Summit Digitel Infrastructure Limited for passive telecommunications infrastructure. - **NONE** (SubsidiaryPerformance): Reliance has a master distribution agreement with Reliance Retail Limited for the distribution of telecommunication services across its pan-India retail network.. No current web search results were found to corroborate, contradict, or provide any information regarding Reliance having a master distribution agreement with Reliance Retail Limited for telecommunication services distribution. - **NONE** (SubsidiaryPerformance): The company intends to distribute enterprise AI products of Reliance Enterprise Intelligence Limited, a joint venture between Reliance Intelligence Limited and a subsidiary of Meta Platforms Inc., to businesses in India.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about Jio Platforms Ltd distributing enterprise AI products of Reliance Enterprise Intelligence Limited. - **NONE** (SubsidiaryPerformance): Jio Financial Services Limited’s JioFinance application is available to the large customer base through the MyJio App.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that the JioFinance application is available through the MyJio App. ## Common questions ### How big is the Jio Platforms Ltd IPO? Jio Platforms Ltd's IPO comprises a fresh issue of 27,00,00,000 shares, according to its Red Herring Prospectus. The price band is ₹1,065.00 to ₹1,119.00 per share. ### What are Jio Platforms Ltd's revenue and profit? Jio Platforms Ltd reported revenue from operations of ₹1,46,885 Cr in FY26, +14.6% versus FY25. Net profit was ₹30,053 Cr (FY25: ₹26,120 Cr). Revenue grew at a compound rate of 15.8% a year from FY24 to FY26. Figures are read from the RHP, as printed there. ### How much do promoters own in Jio Platforms Ltd? Promoters hold 66.4% of Jio Platforms Ltd before the IPO. ### How will Jio Platforms Ltd use the IPO money? The fresh-issue proceeds are earmarked for: Prepayment, in full or in part, of certain outstanding borrowings availed by the Material Subsidiary, RJIL (₹27,500 Cr); General corporate purposes (amount not fixed yet). ### What are the red flags in Jio Platforms Ltd's RHP? We fact-checked 63 claims from the filing against the open web: 0 raised a high concern, 0 medium and 0 low. This is an automated screen, not a verdict; each finding links to its sources. ### What does Jio Platforms Ltd do? Here’s a detail about the JIO Platforms IPO that almost nobody is talking about: there’s zero public record confirming that Isha Mukesh Ambani is currently listed as a Non-Executive Director for the company. ### Who manages the Jio Platforms Ltd IPO? Book running lead managers: Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, BofA Securities India Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited, CLSA India Private Limited, DAM Capital Advisors Limited, HDFC Bank Limited, ICICI Securities Limited, IIFL Capital Services Limited, IIFL Securities Limited, Jefferies India Private Limited, JM Financial Limited, J.P. Morgan India Private Limited, SBI Capital Markets Limited, UBS Securities India Private Limited, ONE WAM Limited. Registrar to the offer: KFin Technologies Limited. Shares are proposed to list on BSE and NSE. ### Where can I read the original Jio Platforms Ltd IPO documents? All 2 filings for Jio Platforms Ltd (DRHP, RHP) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [Jio Platforms Limited – RHP](https://www.sebi.gov.in/sebi_data/attachdocs/oct-2026/1792045029108.pdf) (Red Herring Prospectus, filed 15 Oct 2026) - [Jio Platforms Ltd - DRHP](https://www.sebi.gov.in/sebi_data/attachdocs/jun-2026/1781870482419.PDF) (Draft Red Herring Prospectus, filed 19 Jun 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.