The Jio Platforms IPO opens for public subscription on Wednesday, October 21, 2026, as Mukesh Ambani’s Reliance Group seeks to raise ₹30,213 crore through what is set to become India’s largest initial public offering (IPO) by issue size.
The issue has a price band of ₹1,065–₹1,119 per share and will remain open until October 23. At the upper end of the price band, Jio Platforms is valued at approximately ₹10.3 lakh crore, or $108.3 billion.
What Are the Key Details of the Jio Platforms IPO?
The Jio Platforms IPO comprises a fresh issue of up to 27 crore equity shares with a face value of ₹10 each. At the upper end of the price band, the company aims to raise ₹30,213 crore, or about $3.2 billion.
Key details of the offering include:
- Issue size: Up to ₹30,213 crore at the upper price band
- Price band: ₹1,065–₹1,119 per share
- Subscription period: October 21–23, 2026
- Fresh shares offered: Up to 27 crore
- Minimum retail application: 12 shares
- Minimum investment: ₹13,428 for 12 shares
- Expected allotment date: October 26, 2026
- Expected listing date: October 28, 2026
The company has also reserved shares for eligible employees and qualifying existing Reliance Industries shareholders. Eligible employees bidding under the employee reservation portion will receive a ₹54 per share discount. The allotment and listing dates are indicative and subject to the IPO timetable.
Why Is the Jio Platforms IPO Significant?
The offering marks Reliance Industries’ first major public share sale in two decades. If completed at the upper price band, the IPO would value Jio Platforms at approximately ₹10.3 lakh crore, making it one of India’s largest listed companies by market capitalisation.
Jio serves more than 500 million subscribers and operates India’s largest telecommunications network. Since launching its telecom services in 2016, the company has expanded mobile internet access through low-cost data plans and free voice calls, intensifying competition across India’s telecom sector.
The business is also backed by major technology companies, including Meta and Google. Beyond telecommunications, Jio Platforms is pursuing opportunities in artificial intelligence, cloud computing, enterprise technology and digital infrastructure. These areas could shape its future growth as the company seeks to expand beyond its core connectivity business.
How Will Jio Platforms Use the IPO Proceeds?
Jio Platforms plans to use up to ₹27,500 crore of the IPO proceeds to prepay certain borrowings of Reliance Jio Infocomm Limited, with the remaining funds allocated to general corporate purposes.
The IPO consists of newly issued shares rather than a sale of existing shares by Reliance Industries or other shareholders. As a result, the proceeds will go to Jio Platforms, which intends to use them for the stated corporate purposes.
The fundraising comes as investors assess the company’s long-term growth potential, financial performance, and ability to generate returns from its expanding digital services portfolio.
What Are Jio Platforms’ Revenue and Profit Figures?
Jio Platforms reported revenue of approximately ₹1.47 lakh crore ($ 15.5 billion) and profit after tax of around ₹30,049 Crore ($ 3.2 billion) for the financial year ended March 2026, according to its reported financial results and IPO coverage.
Its telecom business remains the primary revenue driver, accounting for the majority of its revenue. The company’s expansion into digital services, cloud computing, and AI could provide additional growth opportunities, although these investments also bring execution and competition risks.
Investors should assess the company’s financial disclosures, valuation, and future earnings potential rather than relying on its size or market position alone.
What Should Investors Watch?
Investor attention will focus on subscription demand, valuation, and the company’s performance after listing. The IPO’s size makes it an important test of investor appetite for large technology and telecommunications businesses in India’s equity market.
Grey market premiums may offer an indication of unofficial market sentiment, but they are neither exchange-confirmed prices nor reliable guarantees of listing gains. Actual listing performance will depend on market conditions, investor demand, and the company’s financial outlook.
The Jio Platforms IPO is a major milestone for India’s equity markets, offering investors an opportunity to evaluate one of the country’s most prominent digital businesses as a separately listed company.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should review the official IPO documents and consult a qualified financial adviser before making investment decisions.
