Jio Platforms IPO Expected to Open Around 21 October; Could Be India’s Largest Ever

Jio Platforms, the digital and telecom arm of Reliance Industries, is expected to open its initial public offering around 21 October 2026, according to market reports. At the reported size of about 3.8 billion US dollars, it would be the largest public issue India has seen.

What is known

• Size: about $3.8 billion. Rupee estimates in reports range from roughly ₹33,000 crore to ₹37,700 crore, depending on the final price.
• Structure: a fresh issue of up to 27 crore equity shares, according to the draft prospectus. The money raised would go to the company rather than to existing shareholders.
• Valuation: the company is reported to be seeking a valuation of $143 billion to $146 billion, more than ₹12 lakh crore.
• Regulator: the company has received the Securities and Exchange Board of India’s observations on its draft offer document, the step that clears the way for a launch.

The expected timetable

Reports give the following dates, none of which the company has confirmed:

• Final prospectus: around 15 October
• Anchor investors: around 19 October
• Issue opens: around 21 October
• Issue closes: around 23 October
• Listing: around 28 October

The price band and the minimum lot size have not been announced.

About the company

Jio Platforms holds Reliance Jio Infocomm, India’s largest mobile operator with around 500 million subscribers, along with the group’s digital businesses. Reliance Industries, led by Mukesh Ambani, owns about two-thirds of it. The rest is held by investors who bought in during 2020, among them Meta and Google.

Ambani told Reliance shareholders in 2025 that Jio would be listed in the first half of 2026; the timetable later slipped.

How it compares

The largest Indian IPO so far is Hyundai Motor India’s ₹27,870 crore issue in 2024, followed by Life Insurance Corporation’s in 2022. Jio would pass both.

A note for investors

Figures quoted for the “grey market premium” are unofficial and unregulated and are not a reliable guide to listing price. The prospectus, once filed, will set out the company’s finances and risks. This article is not investment advice.

This report draws on ETV Bharat, India Infoline and Business Standard. Dates and figures are as reported and remain subject to change.