Jio Platforms Files RHP for Historic ₹30,000 Crore IPO Opening October 21 with ₹2,500 Crore Shareholder Quota

Jio Platforms Limited, the digital and telecommunications subsidiary of Reliance Industries Limited (RIL), has formally filed its Red Herring Prospectus (RHP) with the Registrar of Companies (RoC) in Ahmedabad on October 14, 2026, marking the commencement of India's biggest primary market offering to date.

The initial public offering (IPO) is scheduled to open for public subscription on Wednesday, October 21, 2026, and close on Friday, October 23, 2026. The anchor investor allocation will take place on Monday, October 19, 2026, while the equity shares are slated to debut on the BSE and the National Stock Exchange (NSE) on October 28, 2026.

Record-Breaking Issue Size and Valuation

The issue is expected to raise approximately ₹30,000 crore to ₹30,200 crore (around $3.8 billion), cementing its position as the largest IPO in Indian capital markets history. This surpasses the previous benchmark set by Hyundai Motor India's ₹27,870 crore ($2.9 billion) listing in October 2024.

The expected price band has been estimated between ₹1,065 and ₹1,119 per share, pegging Jio Platforms' equity valuation at up to ₹10.3 lakh crore (approximately $107 billion) at the upper end of the band.

Issue Structure and Special Quotas

Unlike many recent high-profile listings that leaned heavily on promoter exits, the Jio Platforms IPO is structured strictly as a fresh issue of up to 27 crore equity shares, accounting for roughly 2.9% of the post-issue equity base. Existing institutional backers—including global technology leaders Meta and Google—are not tendering shares in the issue, and Reliance Industries will retain a 66.43% controlling stake following the transaction.

Key Allocation Tranches:

• Reliance Industries Shareholder Reservation: Up to ₹2,500 crore worth of equity shares has been reserved specifically for eligible RIL shareholders, providing existing parent-company investors with a direct allocation avenue.
• Employee Reservation: Up to ₹500 crore worth of shares has been set aside for eligible employees of the company.
• Qualified Institutional Buyers (QIBs): 50% of the net public offer is allocated to institutional investors.
• Retail Individual Investors (RIIs): 35% of the net public offer is reserved for retail applicants.
• Non-Institutional Investors (NIIs): The remaining 15% is reserved for high-net-worth individuals and corporate entities.

Strategic Utilization of Capital

The net proceeds from the primary issuance will be directed primarily toward prepaying and repaying outstanding borrowings of its core operating subsidiary, Reliance Jio Infocomm Limited (RJIL), along with funding general corporate purposes.

As of March 31, 2026, Reliance Jio Infocomm served an active subscriber base of 524.4 million customers. Beyond mobile telecom networks, Jio Platforms has scaled operations into fixed broadband, 5G enterprise solutions, cloud infrastructure, AI platforms, and digital entertainment services.

The filing follows the Draft Red Herring Prospectus (DRHP) submitted by the company on June 19, 2026, which received the observation letter from the Securities and Exchange Board of India (SEBI) on August 28, 2026. Ahead of the official pricing announcement, unofficial grey market activity has indicated robust interest, with premiums trading near 19% over the anticipated upper price ceiling.

Tags: Jio Platforms Reliance Industries SEBI Telecom Initial Public Offering BSE