Jio Platforms, the digital and telecom business of Mukesh Ambani-led Reliance Industries, has set the price band for its initial public offering (IPO) at ₹1,065 to ₹1,119 per share. The offering is expected to become India’s largest-ever IPO, potentially raising approximately ₹30,213 crore at the upper end of the price range.
According to the company’s filing, the IPO will open for public subscription on October 21 and close on October 23, 2026. Bidding for anchor investors is scheduled for October 19, ahead of the public issue.
At the upper end of the price band, Jio Platforms would have an estimated valuation of approximately ₹10.3 lakh crore, or around $108 billion.
Jio IPO: Key Dates and Details
The proposed offering comprises up to 27 crore fresh equity shares with a face value of ₹10 each. The issue is expected to surpass Hyundai Motor India’s October 2024 offering, which raised approximately ₹27,870 crore.
The key details are:
• Price band: ₹1,065–₹1,119 per share
• IPO opening date: October 21, 2026
• IPO closing date: October 23, 2026
• Anchor investor bidding: October 19, 2026
• Expected fundraising: Approximately ₹30,213 crore
• Estimated valuation: Around ₹10.3 lakh crore at the upper end
The final amount raised will depend on the issue price and the number of shares allotted.
Where Will the IPO Money Go?
Jio Platforms plans to use a substantial portion of the proceeds to repay borrowings of its telecom subsidiary, Reliance Jio Infocomm. The company’s prospectus indicates that up to ₹27,500 crore could be allocated for this purpose, with the remaining proceeds intended for general corporate purposes.
Reducing the subsidiary’s debt could help strengthen its financial position and support its future business requirements. The actual impact will depend on the final proceeds and the company’s financial performance after the issue.
Meta and Google Among Jio’s Major Investors
Jio Platforms attracted major global investors in 2020, including Meta and Google, as the business expanded its digital services and telecom operations.
The upcoming IPO will give public-market investors an opportunity to buy shares in a business that operates across telecommunications, broadband, cloud computing, entertainment and other digital services.
Reliance Industries remains the controlling shareholder. The public offering will also provide investors with a market-based valuation of Jio Platforms, subject to demand and trading conditions.
Jio’s Position in India’s Telecom Market
Since its commercial launch in 2016, Reliance Jio has reshaped India’s telecom market through low-cost data plans, expanded network coverage and investments in digital services.
Jio has grown into the country’s largest telecom operator, with more than 524 million subscribers reported as of March 2026. Its scale gives the company a significant position in India’s mobile data and digital-services markets.
The company’s next phase of growth will depend on factors including subscriber additions, average revenue per user, network investment, competition and the expansion of its digital businesses.
What Should Investors Watch?
Investors will assess Jio’s valuation, financial performance, debt-repayment plans and growth prospects before deciding whether to subscribe. The price band alone does not determine whether the shares are attractively valued or how they will perform after listing.
Market conditions, demand during the subscription period and the company’s final allotment and listing details will be important factors to monitor. Investors should read the official offer documents and consider their own financial circumstances before applying.
