Jio Platforms, the digital and telecom business backed by billionaire Mukesh Ambani’s Reliance Industries, has opened its initial public offering (IPO) to public investors on October 21, 2026. The company aims to raise approximately $3.2 billion, making it India’s largest-ever IPO and marking Reliance’s first public share offering in two decades.
Jio IPO Price Band and Key Dates
Jio Platforms has set a price band of ₹1,065 to ₹1,119 per share. The IPO is scheduled to remain open for public subscription until October 23, with shares expected to begin trading on October 28.
The offering could value Jio Platforms at approximately $108.3 billion, placing it among India’s most valuable listed companies. Around one-third of the shares on offer have been reserved for retail investors, giving individual investors an opportunity to participate in the highly anticipated listing.
The company has already allocated shares worth approximately $853 million to major institutional investors. The anchor investor book attracted substantial interest from global and domestic financial institutions, including BlackRock and the Abu Dhabi Investment Authority.
Jio’s 500 Million-Plus Subscriber Base
Since launching its telecom services in 2016, Jio has transformed India’s mobile internet market by making data more affordable and expanding access to high-speed connectivity.
Jio Platforms operates India’s largest telecom business, serving more than 500 million subscribers. Its investor base also includes global technology giants Meta and Google, which invested in the company in 2020.
For the financial year ending March 2026, Jio Platforms reported revenue of approximately $15.5 billion and a profit of around $3.2 billion. Telecommunications accounted for roughly 90% of its business, highlighting the importance of its core connectivity operations.
Where Will the IPO Money Go?
The public offering includes a fresh issue of shares, with proceeds intended primarily to support the business’s financial requirements. A significant portion is expected to be used to repay debt at Reliance Jio Infocomm, the telecom subsidiary, while the remaining funds will be directed towards general corporate purposes.
The listing will also give public-market investors a more direct way to invest in Jio’s digital business, which spans telecommunications and other technology-related services.
A Major Test for India’s IPO Market
Jio’s listing comes at a time when investors are becoming more selective about valuations, particularly for technology companies. The IPO will test demand for a major Indian technology and telecom business amid shifting global investment sentiment.
Strong institutional interest ahead of the public offering has raised expectations, but retail subscription levels and the stock’s performance after listing will provide a clearer indication of investor confidence.
Jio Platforms’ IPO is a landmark moment for India’s capital markets. Its scale, subscriber base and technology ambitions make the offering significant, although investors will need to assess its valuation, financial performance and long-term growth prospects before making investment decisions.
Summary
Jio Platforms has opened its ₹30,000-crore-plus IPO, targeting approximately $3.2 billion at a valuation of up to $108.3 billion. The offering runs from October 21 to October 23, with listing expected on October 28. Backed by Meta and Google, Jio’s public debut will test investor appetite for one of India’s largest technology and telecom businesses.