Unlike several major IPOs where existing investors sell their stakes, Jio Platforms’ upcoming public issue will raise fresh capital for the company, with most of the proceeds earmarked for debt repayment.

India’s IPO market is gearing up for a major milestone. Jio Platforms, the digital services arm of Reliance Industries, is preparing to launch a ₹30,213 crore initial public offering (IPO), which could become the country’s largest-ever public issue.

But the size of the offering is not the only thing setting it apart. The structure of Jio’s IPO makes it different from several large listings seen in India over the past few years.

A Fresh Issue, Not an Investor Exit

Jio Platforms’ IPO will consist entirely of newly issued shares, with no offer-for-sale (OFS) component. This means existing shareholders will not be selling their shares as part of the public issue.

In an OFS, existing investors or promoters sell some of their holdings to public investors. The money from that sale goes to the shareholders selling their stakes rather than to the company itself.

A fresh issue works differently. The company creates and issues new shares to raise capital, which it can then use for specified business purposes.

For Jio Platforms, this means the funds raised through the IPO will go to the company, rather than serving as an exit route for its existing investors, including Reliance Industries, Meta and Google.

Where Will the IPO Money Go?

A significant portion of the proceeds will be used to repay or prepay borrowings of Reliance Jio Infocomm, Jio Platforms’ telecom subsidiary.

The company has earmarked up to ₹27,500 crore of the net proceeds for this purpose, with the remaining funds intended for general corporate purposes. At the upper end of the IPO’s price band, the debt repayment allocation accounts for approximately 91% of the total issue size.

Reducing debt can help lower interest expenses and strengthen a company’s balance sheet. For Jio, the proposed repayment could support its financial position as it continues to expand its digital and telecom businesses.

When Is the IPO Opening?

Jio Platforms has fixed a price band of ₹1,065 to ₹1,119 per share. The public issue is scheduled to open on October 21 and close on October 23, 2026, with anchor investor bidding planned for October 19.

At the upper end of the price band, the company could raise ₹30,213 crore, surpassing Hyundai Motor India’s ₹27,859 crore IPO in 2024.

The offering values Jio Platforms at approximately ₹10.3 lakh crore, making it one of the most significant listings in India’s capital markets.

A Growing Business Heads to the Stock Market

The IPO comes as Jio Platforms continues to expand its presence across telecommunications and digital services. In FY26, the company reported revenue from operations of approximately ₹1.47 lakh crore, while its net profit rose to ₹30,049 crore.

Its subscriber base has also grown substantially since Reliance Jio entered the telecom market in 2016, disrupting the industry with affordable data and voice services.

The listing will give public-market investors an opportunity to invest directly in Jio Platforms and provide a market valuation for Reliance Industries’ digital business.

For investors, however, the size of an IPO alone does not determine whether it is a suitable investment. The company’s valuation, financial performance, future growth prospects and risks all matter when evaluating a public issue.

Source: Moneycontrol

For years, the National Stock Exchange has been the place where Indians buy and sell stocks.

Now, the exchange itself is coming to the stock market.

The much-awaited NSE IPO will open for subscription on September 17, 2026 and close on September 21. The price band has been fixed at ₹1,700 to ₹1,785 per share. At the upper end of the price band, the issue is expected to be worth around ₹22,569 crore, making it one of India’s biggest IPOs. The shares are expected to list around September 24.

But before you rush to apply, there is one important thing to understand.

This isn’t NSE raising money to build a new business.

Here’s why.

First things first: What exactly is the NSE IPO?

The NSE IPO is an Offer for Sale (OFS).

In simple words, NSE is not issuing new shares to raise fresh money. Instead, some of its existing shareholders are selling a part of their holdings to the public.

That means NSE itself will not receive the money raised through the IPO. The proceeds will go to the shareholders selling their shares.

The final offer consists of up to 126.44 million shares, significantly lower than the nearly 149 million shares proposed earlier in the draft prospectus.

Several existing shareholders, including SBI, Bank of Baroda and others, have reduced the number of shares they plan to sell. SBI, for instance, has cut its proposed sale from 24.75 million shares to around 15.97 million shares.

So, the IPO has become smaller before it even opens.

How much money do you need?

The IPO’s price band is ₹1,700 to ₹1,785 per share.

The lot size is 8 shares.

At the upper end of the price band, one lot would therefore cost:

8 × ₹1,785 = ₹14,280

So, a retail investor would need roughly ₹14,280 to apply for one lot at the upper price band.

Of course, applying does not guarantee allotment.

Why is everyone talking about this IPO?

Because NSE isn’t just another company going public.

It is the exchange where millions of Indians trade.

As of March 2026, NSE had 129.09 million unique investors and 253.66 million investor accounts. It had 1,325 trading members and 2,978 listed companies on its platform.

NSE also held a dominant position in India’s equity derivatives market and accounted for more than half of global equity derivatives trading by contracts in FY2026, according to the company’s disclosures cited by Groww.

In other words, when you buy or sell shares on NSE, you’re using the infrastructure of the very business you can now potentially invest in.

But here’s the catch

NSE’s dominance does not automatically mean its IPO is a guaranteed winner.

The biggest question for investors is how NSE makes money and how sustainable that business is.

A large part of NSE’s revenue is linked to trading activity, particularly derivatives.

And that business is facing regulatory changes.

Stricter rules around options trading, changes to funding norms and higher taxes on derivatives trading have affected trading activity. Reuters reported that NSE derives more than 60% of its revenue from options transactions and that options volumes had declined year-on-year in August.

So while NSE is a market leader, investors also need to ask:

Can its current level of profitability continue?

The numbers look strong, but not perfect

In FY2026, NSE reported:

• Revenue from operations: ₹16,601 crore
• EBITDA: ₹11,098 crore
• Profit after tax: ₹10,302 crore

However, profit was lower than the ₹12,188 crore reported in FY2025.

At the same time, the latest quarter showed some improvement.

For the quarter ended June 30, 2026, NSE’s net profit increased 6.7% to ₹3,120 crore, while revenue from operations rose 13% to ₹4,560 crore.

So the picture isn’t simply “NSE is growing” or “NSE is slowing.”

It’s a little of both.

And then there is the valuation question

At ₹1,785 per share, NSE could be valued at around ₹4.42 lakh crore, or approximately $46 billion.

That is a massive valuation.

And this is where investors need to separate two things:

A great company does not always mean a great investment at any price.

NSE may have a strong market position, a powerful brand and a business that benefits from India’s growing participation in financial markets.

But if investors pay too much for that growth, future returns could still disappoint.

What should an investor actually look at?

Instead of asking only, “NSE IPO listing gain kitna dega?”, ask these five questions:

1. How dependent is NSE on derivatives?

If a large chunk of revenue comes from options trading, regulatory changes can directly affect earnings.

2. Can NSE keep increasing trading volumes?

More investors and more trading activity can mean more revenue. But competition and regulations matter too.

3. Is the IPO valuation reasonable?

A strong business can still be expensive.

4. Why are existing shareholders selling?

This is an OFS, so investors should understand who is selling and why.

5. Am I investing for the business or just the listing pop?

These are two very different strategies.

If your entire thesis is “NSE will list at a premium”, you’re betting on market sentiment.

If you’re planning to hold it for years, you’re betting on NSE’s ability to remain one of the most important pieces of India’s financial infrastructure.

The Simple Hai! takeaway

The NSE IPO is historic because the institution that has powered India’s stock market for decades is finally becoming a listed company itself.

But historic does not automatically mean profitable for every investor.

The IPO opens on September 17 with a price band of ₹1,700-₹1,785. The minimum application at the upper end works out to ₹14,280 for one lot of eight shares.

The interesting question isn’t just:

“Should I apply for the NSE IPO?”

It is:

“At this valuation, am I buying the future of India’s markets or simply paying a premium for its past success?”

And that’s the question investors should answer before pressing that Apply button.

This article is for educational purposes only and should not be considered investment advice or a recommendation to subscribe to the NSE IPO.

Milky Mist Dairy Food is set to make its stock market debut on August 18, following strong demand for its initial public offering (IPO). The company’s ₹1,553 crore IPO attracted significant interest from investors during the subscription period. The IPO was priced in the range of ₹133 to ₹140 per share, with the issue closing on August 13. Retail investors could apply for a minimum of 107 shares, requiring an investment of ₹14,980 at the upper end of the price band.

Strong demand for the IPO

The IPO received a strong response from investors. By the end of the subscription period, the issue was subscribed more than 56 times.

Institutional investors showed particularly strong interest, with the portion reserved for qualified institutional buyers subscribed over 155 times. The non-institutional investor category was subscribed nearly 35 times, while the retail portion was subscribed more than eight times.

The strong subscription indicates considerable investor interest in the company’s business and its plans for future growth.

What is the company raising money for?

The IPO consists of a fresh issue of around ₹1,428 crore and an offer for sale worth approximately ₹125 crore. The fresh funds will go towards strengthening the company’s balance sheet and supporting its expansion plans.

A significant portion of the proceeds is expected to be used to repay or reduce existing borrowings. The company also plans to spend money on expanding and modernising its manufacturing facility in Perundurai, Tamil Nadu.

What does Milky Mist do?

Milky Mist Dairy Food is a dairy and food products company with a portfolio that includes paneer, cheese, butter, curd, ghee, yoghurt and ice cream.

The company has built a strong presence in the organised dairy market, particularly in South India. It has also expanded its product range and distribution network over the years.

However, a large share of its business continues to come from South India, making geographical expansion an important part of its future growth strategy.

What does the GMP indicate?

Ahead of the listing, Milky Mist shares were trading at a premium in the grey market.

The Grey Market Premium (GMP) is an unofficial indicator of how the market expects an IPO to perform when it lists. A GMP of around ₹20 over the IPO’s upper price of ₹140 suggested a potential listing price of about ₹160 per share, or roughly a 14–15% premium.

However, GMP is not an official market price and can change quickly. It should not be treated as a guarantee of listing gains.

What happens next?

With the IPO subscription completed, shares are scheduled to list on both the NSE and BSE on August 18.

While the strong subscription and grey-market premium point towards positive investor sentiment, the actual listing price will depend on market conditions and demand on the day of listing.

For investors, the bigger question is not just how the stock performs on its first day, but whether Milky Mist can continue to grow its business, expand beyond its existing markets, manage its debt and improve profitability over the long term.

Source: NDTV Profit