Jio Platforms IPO, touted as the biggest ever initial public offering (IPO) in the history of India’s capital market, will be hitting the primary market soon as the Reliance Group’s digital and telecom arm is giving final touches to its public offer documents after concluding worldwide roadshows, news agency PTI reported, citing sources.
The Jio Platform’s IPO is estimated at USD 3.8 billion or over Rs 36,000 crore.
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.