06 October,2026 09:48 AM IST | New Delhi | mid-day online correspondent
Representational Image. File pic.
Jio Platforms, the digital services division of Reliance Industries, plans to launch its initial public offering (IPO) on October 21, reported news agency PTI.
The IPO is expected to be the largest public issue in the country at an estimated size of USD 3.8 billion. The shares of the company is likely to get listed on the bourses on October 28, at an enterprise valuation of USD 143-146 billion or above Rs 12 lakh crore.
Hyundai Motor India's Rs 27,870-crore IPO in 2024 is the largest issue in the country, so far.
The IPO would be the first public issue from the Reliance Group since 2008. It would also be the first IPO of a consumer-focused business within the conglomerate, as per PTI.
"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," sources told PTI.
Jio Platforms had filed its draft papers with the market regulator Securities and Exchange Board of India (SEBI) in June for the proposed public issue and had obtained SEBI's final observations on August 28.
SEBI's observation is a key step in the initial public offering (IPO) process, after which a company can proceed with further preparations for the public issue, subject to applicable regulatory requirements.
The company is expected to file final papers with SEBI for the IPO in the week starting October 12, as per PTI.
According to the Draft Red Herring Prospectus (DRHP), the company will offer up to 27 crore fresh equity shares. The issue will account for around 2.9 per cent of the company's total equity base post-issue.
Earlier, in June, Reliance Industries Chairman and Managing Director Mukesh Ambani had described the approval of the DRHP as a deeply emotional moment for the Reliance Group and its millions of shareholders.
"The relationship Reliance shares with its shareholders is a deep and sacred relationship founded on pride, trust, respect, and shared growth - a commitment deeply personal to Dhirubhai Ambani and equally sacred to Mukesh Ambani," he had said.
"The proposed listing of Jio will demonstrate to the world that India can build technology companies of global scale, global capability, and global value," Mukesh Ambani had added.
He had also highlighted the role of the next generation of leadership, stating that Akash Ambani, Isha Ambani and Anant Ambani are leading the Jio IPO process and will spearhead future value-creation opportunities for the company.
The company's IPO comes amid heightened action in the primary market with strong participation from retail investors and domestic institutions.
Last month, the National Stock Exchange (NSE) had launched its Rs 22,569-IPO, and so far over
two dozen IPOs have been announced or launched since July 1. There were 28 IPOs recorded in the first half of 2026.
Jio Platforms (JPL) houses Reliance's digital businesses, including its telecommunications operations, with Reliance Jio Infocomm, the telecom arm of the company, dominating the Indian telecom market with a 32.89 per cent market share in fixed-line connections, with 157.9 million customers. It has a 39.29 per cent share in mobile connections, with 506 million customers.
JPL has the largest 5G Standalone network outside China, with 26.85 crore 5G customers as of June 2026. Jio leads the Fixed Wireless Access segment globally with about 1.5 crore subscribers, roughly 1.5 times the second-largest player, US-based T-Mobile, as per PTI.
Jio Platforms registered a 15 per cent rise in net profit to Rs 30,053 crore and a 14.5 per cent increase in annual revenue to Rs 1,46,885 crore, for FY 26.
(With inputs from PTI)
