Jio Platforms is set to launch India's largest-ever IPO, with a issue size of up to ₹30,213 crore, surpassing Hyundai Motor India's 2024 record. The offering opens October 21, 2026 and closes October 23, with listing expected on October 28 .
Key Issue Details
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Price Band: ₹1,065–₹1,119 per share .
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Issue Structure: A pure fresh issue of 27 crore shares—no offer-for-sale (OFS) component, meaning all proceeds go to the company .
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Valuation: At the upper price band, Jio Platforms is valued at approximately ₹10.3 lakh crore .
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Lot Size: Minimum 12 shares, requiring ₹13,428 at the upper band for retail investors .
Use of Proceeds
The company plans to utilize the net proceeds primarily to repay or prepay borrowings of its material subsidiary, Reliance Jio Infocomm (RJIL), with up to ₹27,500 crore earmarked for this purpose (about 91% of gross proceeds). The remainder will go toward general corporate purposes .
Financial Snapshot (FY26)
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Revenue from Operations: ₹1,46,885 crore (up ~14.6% YoY) .
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Profit After Tax (PAT): ₹30,049 crore (up ~15.1% YoY) .
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EBITDA: ₹76,255 crore, with a margin of 51.9% .
Special Reservations
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Reliance Industries Shareholders: Up to ₹2,500 crore reserved for eligible individual and HUF shareholders of RIL (based on holdings as of the RHP filing date) .
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Employees: Up to ₹500 crore reserved, with a ₹54 per share discount .
Why This IPO Matters
This listing shifts Jio Platforms' price discovery from private markets (where it was valued around ₹4.91 lakh crore in 2020) to public markets, potentially making it one of India's top listed companies by market cap. The debt-reduction focus is also expected to lower interest costs and strengthen cash flows for future digital and 5G investments .
In short: Jio Platforms' ₹30,213 crore IPO is India's largest ever, priced at ₹1,065–1,119, with proceeds mainly targeting debt reduction at Reliance Jio Infocomm.
