Jio Platforms, the digital arm of Reliance Industries, is preparing to launch its initial public offering (IPO), with the subscription window tentatively set for October 21 to 23, 2026, according to reports. Shares are expected to list on October 28, subject to market conditions.

At the reported size of approximately $3.8 billion, the offering would surpass Hyundai Motor India's $2.9 billion issue of 2024 to become the largest IPO in India's history.

The proposed IPO is structured entirely as a fresh issue of up to 27.00 crore equity shares, with no offer for sale by existing shareholders. Proceeds will therefore go to the company rather than to selling shareholders. The company intends to use the bulk of the proceeds to repay or prepay roughly ₹27,500 crore of Reliance Jio Infocomm's borrowings.

Jio Platforms IPO - Issue Details

Issue Type: Book-Built Issue (Fresh Issue only)
Total Issue Size: Up to 27.00 crore equity shares
Fresh Issue: Up to 27.00 crore equity shares
Offer for Sale (OFS): Not Applicable
Face Value: ₹10 per share
Price Band: To be announced
Lot Size: To be announced
Listing: BSE, NSE
Book Running Lead Managers (BRLMs): Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, BofA Securities India Limited, Axis Capital Limited, BNP Paribas, Citigroup Global Markets India Private Limited, CLSA India Private Limited, DAM Capital Advisors Limited, Goldman Sachs (India) Securities Private Limited, HDFC Bank Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, IIFL Capital Services Limited, Jefferies India Private Limited, JM Financial Limited, J.P. Morgan India Private Limited, SBI Capital Markets Limited, UBS Securities India Private Limited and 360 ONE WAM Limited.
Registrar to the Issue: KFin Technologies Limited

Utilisation of IPO Proceeds

The company intends to utilise the net proceeds from the fresh issue towards:

Prepayment, in full or in part, of certain outstanding borrowings availed by the material subsidiary, Reliance Jio Infocomm Limited (RJIL)
General corporate purposes

About Jio Platforms Limited

Established in 2019, Jio Platforms Limited is a technology company focused on delivering digital connectivity and services throughout India. Its subsidiary, Reliance Jio Infocomm Limited (RJIL), provides mobile and fixed broadband alongside a wide range of digital products, including entertainment, cloud, smart home, gaming and enterprise solutions, as well as AI-driven applications. By March 31, 2026, RJIL's customer base had reached 524.4 million nationwide.

The company runs on a proprietary, end-to-end technology stack built in-house, spanning network infrastructure, devices, software, operating systems and digital applications. This vertically integrated approach speeds up innovation, reduces reliance on external vendors and allows 4G, 5G, cloud and AI technologies to be rolled out at scale. As a result, Jio Platforms is positioned as one of India's foremost digital infrastructure and services providers.

Key Financial Highlights

Particulars	FY26 (in ₹ crore)	FY25 (in ₹ crore)	FY24 (in ₹ crore)
Revenue from operations	1,46,885.00	1,28,218.00	1,09,558.10
EBITDA	76,255.40	64,170.00	54,958.70
Profit After Tax (PAT)	30,049.70	26,120.30	21,423.20