Releasing the draft prospectus of the IPO on October 24, 2026, Reliance Industries’ digital services unit Jio Platforms earmarked ₹30 crore towards legal fees. The ₹30,187 crore IPO of Jio Platforms comprises a fresh issue of shares only.

The amount set aside for legal fees by Jio Platforms is 6.39 percent of its estimated expenses towards the IPO. This percentage is higher than many recent Indian public issues.

The fees paid to lawyers made up around 5.88 percent and 5.02 percent of the expenses of India food delivery startup Swiggy and Vishal Mega Mart during their IPOs in 2024, respectively. Legal costs amounted to 3.60 percent of LIC IPO expenses when the insurance giant went public in 2022. Legal costs represented only 1.02 percent of Hyundai Motor India’s IPO expenses last year.

Five law firms advised on the public issue. Three firms advised Jio Platforms while the book-running lead managers (BRLMs) were advised by two firms.

Shardul Amarchand Mangaldas was the lead Indian law counsel to Jio Platforms while Cyril Amarchand Mangaldas was another Indian law counsel to the company. US law firm Latham & Watkins LLP advised Jio Platforms on foreign law.

Book-running lead managers were advised by Khaitan & Co on Indian law while White & Case LLP was their foreign law counsel. The prospectus did not reveal how much each firm would get paid or what portion of the ₹30 crore budget was allotted to each legal mandate.

The ₹30 crore set aside for legal fees is part of ₹469.7 crore that Jio Platforms expects to pay as total expenses for the IPO. This is about 1.56 percent of the total issue size. ₹196.2 crore or 41.77 percent of the expenses budget is towards the book-running lead managers’ fees and commissions, which includes underwriting commissions.

Selling commissions, brokerage and other fees amount to ₹50.6 crore while advertising and marketing costs are pegged at ₹50 crore. The company also expects to spend ₹29.2 crore on other advisors, including statutory auditors, chartered accountants, company secretaries and industrial experts.

The estimates mentioned in the prospectus do not include Goods and Services Tax (GST). They are subject to change.

The prospectus stated that “all expenses occasioned by the issue, including fees payable to the legal advisers to the company and the BRLMs, will be borne by Jio Platforms.”

The Jio Platforms IPO opened on October 21 and closed on October 23, 2026. Anchor investors participated in the bidding on October 19. Only a fresh issue of 27 crore equity shares was offered to the public at ₹1,119 per share. The issue did not include an offer-for-sale by existing shareholders.