Mumbai: Jio Platforms, the digital services arm of Reliance Industries, has filed its red herring prospectus (RHP) with the Registrar of Companies, moving closer to its much-anticipated initial public offering (IPO), which is scheduled to open for subscription on October 21 and close on October 23.
According to the company’s exchange filing, bidding for anchor investors will take place on October 19. The filing marks a key step in the listing process for the company, which operates Reliance’s telecommunications and digital services businesses.
The proposed public issue will comprise a fresh issue of up to 27 crore equity shares. The offering will also include dedicated reservations for eligible shareholders of Reliance Industries and eligible employees, subject to the terms outlined in the offer documents.
Shareholder and employee reservations
Jio Platforms has reserved shares worth up to Rs 2,500 crore for eligible shareholders of Reliance Industries, allowing qualifying investors in the parent company to participate through a dedicated portion of the IPO.
The company has also earmarked shares worth up to Rs 500 crore for eligible employees.
The shareholder reservation is expected to be a significant feature of the offering, providing eligible Reliance Industries investors with a separate allocation. Participation will be governed by the eligibility criteria and allocation rules specified in the offer documents.
The IPO schedule provides investors with a defined subscription window, beginning on October 21 and ending on October 23, following the anchor investor bidding scheduled for October 19.
IPO process follows Sebi observations
The Securities and Exchange Board of India (Sebi) issued its final observations on Jio Platforms’ draft IPO documents on August 28. The company had filed its draft prospectus in June.
According to the draft prospectus, Jio Platforms plans to issue up to 27 crore fresh equity shares, equivalent to approximately 2.9% of its post-issue equity base.
The RHP filing brings the company closer to the public offering, which is expected to draw attention because of Jio’s position in India’s telecommunications and digital services markets.
The IPO would be the first public offering from the Reliance Group since 2008 and the first IPO of a consumer-focused business within the conglomerate.
Jio’s telecom and digital businesses
Jio Platforms houses Reliance’s digital businesses, including its telecommunications operations through Reliance Jio Infocomm.
The company has built a substantial presence in India’s mobile and fixed-line telecommunications markets. According to the figures cited in the IPO-related disclosures, Reliance Jio Infocomm held a 32.89% market share in fixed-line connections, serving 157.9 million customers, and a 39.29% share in mobile connections, with 506 million customers.
Jio Platforms also reported 26.85 crore 5G customers as of June 2026, giving it one of the largest 5G Standalone networks outside China.
The company is a major player in Fixed Wireless Access (FWA), with approximately 1.5 crore subscribers globally. Its disclosures also state that its 5G network carries close to 60% of India’s wireless data traffic.
These figures underline the scale of the digital and telecommunications businesses that form the core of Jio Platforms.
Revenue and profit increase in FY26
Jio Platforms reported a 15% increase in profit after tax to Rs 30,053 crore for the financial year 2025-26.
Annual revenue rose 14.5% to Rs 1,46,885 crore, according to the figures cited in the company’s IPO disclosures.
The financial performance reflects growth in the company’s telecommunications and digital services operations. Its extensive customer base and investment in 5G infrastructure are key elements of its business profile as it approaches the public markets.
Market awaits details of the offering
With the RHP filed and the subscription dates announced, attention will now turn to the final offer details, including the price band and other terms specified in the offer documents.
The IPO’s size, pricing and investor response will be important factors in determining how the offering performs. The dedicated allocations for eligible Reliance Industries shareholders and employees are also expected to be closely watched.
The planned listing represents a significant development for Reliance Industries’ digital business and could mark a major milestone for India’s capital markets.