Jio Platforms IPO Set for October Listing After Global Roadshows

Jio Platforms, backed by Reliance Industries Limited, is gearing up to launch what is expected to be India's largest initial public offering (IPO), with a target timeline toward the end of October 2026. Following extensive roadshows across key international financial hubs including the United States, United Kingdom, Dubai, Singapore, and Hong Kong, the company is reportedly preparing to file its red herring prospectus soon.

The IPO is anticipated to raise between Rs. 37,000 crore and Rs. 37,800 crore, primarily through a fresh issue of up to 27 crore shares. Market insiders indicate a proposed price band ranging from Rs. 1,350 to Rs. 1,450 per share, which would value Jio Platforms at approximately Rs. 12.4 lakh crore to Rs. 13.4 lakh crore post-issue. The listing is expected to occur between late October and early November 2026.

Key dates associated with the IPO include October 19, 2026 for the anchor book, with the public subscription window opening on October 21 and closing on October 23. The basis of allotment is scheduled for October 26, and the shares are expected to debut on stock exchanges on October 28, 2026.

Akash Ambani, Managing Director of Jio Platforms, and Isha Ambani, Executive Director of Reliance Retail Ventures, led the global roadshows aimed at attracting international investors. This strategic investor engagement is part of Jio’s efforts to position itself as a dominant player in the telecom and digital services sector.

Jio Platforms is distinguished by its extensive 5G standalone network, the largest outside China, boasting 268.5 million 5G subscribers as of June 2026. The company also holds a leading position in the Fixed Wireless Access market globally, with approximately 15 million subscribers, significantly ahead of competitors such as US-based T-Mobile.

The Securities and Exchange Board of India (SEBI) gave its final observations on the IPO documents on August 28, after Jio Platforms initially filed the draft papers in June. According to reports from the Press Trust of India, the company is finalizing its public offer documents in preparation for the public launch.

Proceeds from the IPO are expected to be directed primarily toward reducing the outstanding debt of Reliance Jio Infocomm Ltd, Jio Platforms’ major telecom subsidiary. The draft prospectus outlines plans to use approximately Rs. 27,500 crore for repaying or prepaying borrowings. Reliance Jio Infocomm commands a significant market share in the Indian telecom sector, holding 32.89 percent of fixed-line connections with nearly 158 million customers and 39.29 percent of mobile connections with over 506 million subscribers.

Jio’s 5G network handles close to 60 percent of India's wireless data traffic, underscoring its critical role in the country’s digital infrastructure. This dominant position supports Jio’s valuation and investor interest amid a growing digital economy in India.

The forthcoming IPO is regarded as a landmark event in India’s capital markets, reflecting both the rapid expansion of the telecommunications industry and the increasing appetite of investors for technology-driven companies. Jio Platforms’ public offering is one of the largest in the country’s history, highlighting the scale and ambition of Reliance Industries in shaping India’s digital future.

Prashant V. Singh, Editor and Head of LiveMint and LiveMint Hindi at HT Media Group, has been closely following developments around the IPO. With nearly two decades of experience in business journalism and newsroom innovation, Singh brings detailed insight into major financial stories, including extensive coverage of IPOs, monetary policies, and market trends.