Jio Platforms IPO Opens at ₹1,119

Jio Platforms’ initial public offering (IPO) opened for public subscription on Wednesday, October 21, 2026, in what is set to become India’s largest-ever stock market listing. The Reliance Industries-backed digital and telecommunications company aims to raise up to ₹30,213 crore through a fresh issue of 27 crore equity shares.

The IPO has a price band of ₹1,065 to ₹1,119 per share. At the upper end of the range, the issue values Jio Platforms at approximately ₹10.3 lakh crore, or around $108 billion. The public offering will remain open until October 23, with the shares expected to list on the BSE and NSE on October 28.

The offering surpasses Hyundai Motor India’s ₹27,870 crore IPO in October 2024, making it the largest public issue in India to date. Jio Platforms is offering 27 crore new shares, and the proceeds are intended partly for debt repayment at its telecommunications subsidiary and for general corporate purposes.

Investor interest was strong before the public subscription period. Jio Platforms raised approximately ₹8,109.84 crore from 212 anchor investors on October 19, with Life Insurance Corporation of India receiving the largest allocation. Reuters also reported that institutional demand for the reserved portion exceeded the shares available, while retail participation initially began at a slower pace.

Jio Platforms operates the Reliance Jio telecom business and a range of digital services. Its telecom network has more than 500 million subscribers, making it one of the world’s largest operators in a single country. The company has also expanded its presence in cloud computing and artificial intelligence-related services.

Global technology companies Meta and Google are among Jio Platforms’ major investors. The business reported approximately $15.5 billion in revenue and $3.2 billion in profit in the previous financial year, according to Reuters. Investors will assess these earnings alongside subscriber growth, average revenue per user, capital expenditure and the prospects for newer digital businesses.

The IPO comes amid broader attention on India’s primary market and the valuation of large technology and telecom businesses. The final subscription figures, investor-category demand and eventual listing price will provide further information about market appetite for the issue.

Investors should note that the IPO price band and the company’s estimated valuation do not guarantee listing gains. Market conditions, subscription demand, business performance and the valuation investors are willing to pay can all influence the share price after listing.