Jio Platforms Limited, the digital services arm of Reliance Industries, has earmarked ₹30 crore towards legal fees in connection with its ₹30,187 crore initial public offering (IPO), according to the company's prospectus dated October 24, 2026.
Jio Platforms' allocation towards legal fees accounts for 6.39 percent of its total estimated IPO expenses, a higher proportion than several other major public offerings in India.
For context, legal fees accounted for approximately 5.88 percent of Swiggy's IPO expenses in 2024 and 5.02 percent of Vishal Mega Mart's issue expenses in the same year.
The corresponding proportion was 3.60 percent for Life Insurance Corporation of India's IPO in 2022 and 1.02 percent for Hyundai Motor India's public offering in 2024.
Five law firms advised on the public issue, including three representing Jio Platforms and two advising the book-running lead managers (BRLMs).
Shardul Amarchand Mangaldas & Co acted as the lead Indian legal counsel to Jio Platforms, while Cyril Amarchand Mangaldas served as another Indian legal counsel. International law firm Latham & Watkins LLP advised the company on international law.
Khaitan & Co advised the book-running lead managers on Indian law, while White & Case LLP acted as their international legal counsel.
The prospectus does not disclose the individual fees payable to the five firms or the proportion of the ₹30 crore allocation attributable to each mandate.
The legal fee allocation forms part of Jio Platforms' overall estimated IPO expenses of ₹469.7 crore, equivalent to approximately 1.56 percent of the total issue size. Of this, ₹196.2 crore, or 41.77 percent, has been earmarked towards fees and commissions for the book-running lead managers, including underwriting commissions.
Another ₹50.6 crore has been allocated towards selling commissions, brokerage and processing fees, while advertising and marketing expenses are estimated at ₹50 crore.
The company has also budgeted ₹29.2 crore towards other advisors, including statutory auditors, chartered accountants, company secretaries and industry experts.
The estimates exclude Goods and Services Tax (GST) and remain subject to revision.
According to the prospectus, all expenses relating to the public issue, including fees payable to legal counsel representing both the company and the BRLMs, will be borne by Jio Platforms.
The IPO comprised a fresh issue of 27 crore equity shares priced at ₹1,119 each, without any offer-for-sale component. The public issue opened on October 21 and closed on October 23, 2026, following anchor investor bidding on October 19.