Reliance Jio IPO: Should investors chase listing gains or focus on long-term value? Experts weigh in

Reliance Jio Platforms is set to open India's largest-ever IPO for public subscription on 21 October 2026, with a price band of ₹1,065 to ₹1,119 per share, aiming to raise between ₹28,755 crore and ₹30,213 crore through a fresh issue of up to 27 crore equity shares. Reliance Industries holds a 66.43% stake, while Meta and Google hold around 9.98% and 7.73% respectively. Grey market premium of ₹220 suggests a potential 20% listing gain, with Centrum Broking ascribing a valuation of ₹11.5 lakh crore at 12x EV/EBITDA on FY28E estimates, citing tariff hikes and ARPU growth as key drivers.