- Jio Platforms IPO subscription likely October 21-23
- Shares expected to list on stock exchanges October 28.I
- IPO estimated at $3.8 billion for debt repayment.
Jio Platforms IPO, which is expected to be the largest initial public offering in the history of the Indian Stock Market, is likely to open for public subscription on October 21, and the listing of shares may take place on October 28, news agency PTI reported, citing sources.
Shares of the digital services major are likely to be listed on the stock exchanges on October 28, sources added. The telecom and digital arm of Reliance group may pose its valuation at USD 143-146 billion or above Rs 12 lakh crore.
"The issue will open for subscription from October 21 to October 23 after completion of the anchor round on October 19. The shares are expected to get listed on October 28 for public trading," one of the sources tracking the development told PTI.
The Jio Platform’s IPO is estimated at USD 3.8 billion or over Rs 36,000 crore.
Global Roadshow Completed
Earlier, Reliance Group’s digital and telecom arm concluded worldwide roadshows, news agency PTI reported, citing sources. Reliance Jio Chairman and Jio Platforms Managing Director, Akash Ambani, and Reliance Retail Ventures Limited Executive Director Isha Ambani led the roadshow overseas.
"Jio Platforms has completed the first leg of the IPO after roadshows with potential investors globally. The roadshows were held in the US, UK, Dubai, Singapore and Hong Kong. Now, the company has started preparations for filing a red herring prospectus," a source aware of the development told PTI.
Jio Platforms IPO Was Approved Last Month
The digital services arm of retail-to-oil conglomerate Reliance Industries, Jio Platforms, got market regulator SEBI approval last month for its proposed initial share sale, paving the way for potentially the largest stock-market listing.
Earlier, Jio Platforms filed IPO papers in June after Billionaire Mukesh Ambani announced plans to list Reliance Group’s digital arm in this year’s Annual General Meeting (AGM). Subsequently, the Securities and Exchange Board of India (SEBI) had issued its final observations on August 28.
According to its draft prospectus, the company plans to issue up to 27 crore new equity shares, equivalent to about 2.9 per cent of the post-issue equity base. The IPO will be the first public offering from the Reliance Group since 2008 and the first from the multi-crore conglomerate’s consumer-centric business.
Investors’ In Jio Platforms
Investor / Entity | Investment Amount | Ownership / Stake |
Meta | Rs 43,574 crore | 9.99% |
Rs 33,737 crore | 7.73% | |
Other Investors (Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, Abu Dhabi Investment Authority, TPG, L Catterton, Intel Capital, Qualcomm Ventures) | Rs 74,745 crore (collective) | 15.2% |
Reliance Industries | - | Around 66.4% |
What Does Jio Platforms Do?
Houses Reliance's digital businesses, including telecom operations.
Dominates the Indian telecom market with a 32.89% share in fixed-line (157.9M customers) and a 39.29% share in mobile (506M customers).
Operates the largest 5G Standalone network outside China with 26.85 crore subscribers as of June 2026.
It has expanded into digital ecosystem services like cloud, AI, and enterprise networking.
Where Will Proceeds Go?
The draft prospectus noted that the proceeds will be used primarily for the full or partial repayment or prepayment of approximately Rs 27,500 crore of outstanding debt of Reliance Jio Infocomm Limited, a key subsidiary of Jio Platforms.
The Jio Platforms IPO comes at a time when India's primary market is buoyant with strong participation from retail investors and domestic institutions.
(With Inputs From Agencies)