Jio Platforms IPO: Key Dates, Issue Size, Valuation And Other Details

Jio Platforms is moving closer to its much-awaited IPO, with the issue expected to open on October 21, 2026, and potentially become the largest public offering in India. However, several key details, including the final price band and exact issue size, are still awaiting confirmation in the final offer document. 

Jio Platforms, Not Reliance Jio, Is The Issuer

The company coming to the stock market is Jio Platforms Limited, rather than Reliance Jio Infocomm, the telecom operating subsidiary.

Jio Platforms is the technology holding company that houses Reliance Industries' digital businesses, including its telecom, broadband, enterprise and digital services operations. Reliance Industries is the promoter and held 66.43 per cent of Jio Platforms before the IPO. 

The company filed its DRHP with SEBI on June 19, 2026. The proposed issue consists of up to 27 crore new equity shares, each having a face value of Rs 10. There is no offer-for-sale component in the DRHP, meaning the money raised through the issue will go to Jio Platforms rather than existing shareholders selling their shares. 

When Will The Jio IPO Open?

Current reports indicate that the IPO is likely to open on October 21 and close on October 23, 2026, with the shares expected to list around October 28. The anchor book is reportedly scheduled for October 19. 

These dates should still be treated as reported timelines rather than final until the company files its final offer document.

What Will Be The Jio IPO Price?

This is where investors need to be careful. Several IPO tracking platforms are currently showing an indicative price band of Rs 1,066 to Rs 1,118 per share, with a lot size of 13 shares. At the upper end, one lot would require Rs 14,534. 

However, the June DRHP does not contain a final price band. It specifically leaves the issue price to be determined through the book-building process. 

There is also a difference between the reported issue size and the indicative price band. Reuters has reported that Jio Platforms is targeting around USD 3.8 billion, or roughly Rs 37,700 crore, while 27 crore shares priced at Rs 1,118 would amount to about Rs 30,186 crore. 

Therefore, Rs 1,066-Rs 1,118 should not be treated as the final price band at this stage. The final RHP will settle the numbers.

Where Will The IPO Money Go?

A major portion of the proceeds is earmarked for debt reduction.

The DRHP proposes using up to Rs 27,500 crore to prepay or repay certain borrowings of Reliance Jio Infocomm, Jio Platforms' material subsidiary. The remaining proceeds are intended for general corporate purposes. 

This makes the IPO different from a simple promoter stake sale. The company is raising fresh capital, with a significant portion intended to strengthen the financial position of its operating subsidiary.

Jio's Financial Scale

For FY26, the company reported revenue of around Rs 1.47 lakh crore and profit after Tax of about Rs 30,049 crore. Reliance Jio had more than 524 million customers as of March 2026. 

The business has also expanded beyond mobile connectivity into home broadband, enterprise services, cloud, digital platforms and emerging technology areas such as artificial intelligence.

Who Owns Jio Platforms?

Reliance Industries remains the largest shareholder with a 66.43 per cent stake.

Other major shareholders include Meta affiliate Jaadhu Holdings with 9.98 per cent and Google International with 7.73 per cent. Saudi Arabia's Public Investment Fund and KKR-affiliated entities each hold 2.31 per cent, while Silver Lake, Mubadala, General Atlantic and other global investors also have stakes. 

Disclaimer: The article is for informational purposes only and not investment advice.