Jio Platforms IPO to Open on October 21

Reliance Industries’ digital and telecom subsidiary, Jio Platforms Limited (JPL), is set to launch its initial public offering (IPO) from October 21 to October 23, with a price band of ₹1,065–₹1,119 per share. The proposed issue aims to raise approximately ₹30,213 crore, potentially making it India’s largest IPO. The company plans to issue up to 27 crore fresh shares with a face value of ₹10 each. Anchor investors can participate on October 19, while the shares are scheduled to list on stock exchanges on October 28. Retail investors can apply for a minimum of 12 shares, requiring an investment of ₹13,428 at the upper end of the price band. Eligible Reliance employees will receive a discount of ₹54 per share. Shares worth up to ₹500 crore have been reserved for eligible employees, while a ₹2,500 crore allocation has been set aside for eligible Reliance Industries shareholders who meet the specified eligibility criteria.

According to the draft documents, Jio Platforms reported operating revenue of ₹1,46,885 crore in FY2025–26, up 14.6% from ₹1,28,218 crore in the previous financial year. Net profit increased 15.1% to ₹30,049 crore from ₹26,109 crore. As of March 2026, the company had 52.4 crore subscribers, with an average revenue per user (ARPU) of ₹214. Its total debt declined 3.1% year-on-year to ₹70,781 crore. Since the IPO consists entirely of fresh shares, the proceeds will go to the company and are intended to support debt repayment by subsidiary Reliance Jio Infocomm and general corporate purposes. Reliance Industries holds a 66.43% stake in Jio Platforms, while Meta and Google together hold 17.7%. If the proposed issue raises the targeted amount, it would surpass Hyundai Motor India’s ₹27,858.75 crore IPO in 2024 and LIC’s ₹20,557.23 crore issue in 2022, setting a new record for India’s IPO market.