Jio Platforms Allocates ₹30 Crore for Legal Fees in ₹30,187 Crore IPO
Jio Platforms has set aside ₹30 crore for legal expenses related to its recent IPO, representing a significant portion of its total offering costs.
Legal fees constitute 6.39% of Jio's total IPO expenses.
Five law firms provided counsel for the IPO, including Shardul Amarchand Mangaldas & Co.
The IPO raised ₹30,187 crore with a fresh issue of 27 crore equity shares.
Jio Platforms Limited, a subsidiary of Reliance Industries focused on digital services, has allocated ₹30 crore for legal fees associated with its initial public offering (IPO) valued at ₹30,187 crore. This allocation, detailed in the company's prospectus dated October 24, 2026, represents 6.39 percent of the total estimated expenses for the IPO, which is notably higher compared to other recent public offerings in India.
In the context of previous IPOs, legal fees accounted for 5.88 percent of Swiggy's IPO expenses in 2024 and 5.02 percent for Vishal Mega Mart in the same year. For the Life Insurance Corporation of India, the proportion was 3.60 percent in 2022, while Hyundai Motor India's IPO saw legal fees at just 1.02 percent in 2024. This trend highlights Jio Platforms' significant investment in legal counsel for its public offering.
Five law firms were involved in advising Jio Platforms during this IPO process. Shardul Amarchand Mangaldas & Co. served as the lead Indian legal counsel, alongside Cyril Amarchand Mangaldas. Latham & Watkins LLP provided international legal advice, while Khaitan & Co. and White & Case LLP advised the book-running lead managers on Indian and international law, respectively. However, the prospectus does not specify the individual fees for these firms or how the ₹30 crore allocation is distributed among them.
The total estimated expenses for the IPO amount to ₹469.7 crore, which includes 41.77 percent allocated for fees and commissions to the book-running lead managers, amounting to ₹196.2 crore. Additional allocations include ₹50.6 crore for selling commissions and brokerage, and ₹50 crore for advertising and marketing. The budget also includes ₹29.2 crore for other advisors, such as statutory auditors and industry experts, but does not account for Goods and Services Tax (GST).
The IPO, which consists of a fresh issue of 27 crore equity shares priced at ₹1,119 each, opened for public subscription on October 21 and closed on October 23, 2026, following an anchor investor bidding on October 19. Jio Platforms will cover all expenses related to the public offering, including legal fees for both the company and the book-running lead managers, as outlined in the prospectus.
