Jio Platforms IPO set for Oct 21–23, fresh issue to fund debt repayment

Jio Platforms IPO is touted as India's largest public offer at an estimated size of $3.8 billion

Jio Platforms Ltd, the digital holding company of Reliance Industries that houses the country’s largest mobile network, is nearing the launch of its much-awaited initial public offering (IPO), with internal preparations largely complete and investor feedback reportedly strong.The IPO could open for public subscription between October 21 and 23, while the anchor book may open on October 19. According to a report by Moneycontrol, the company is targeting a stock market debut on October 28, although the final schedule will depend on market conditions.Jio's $3.8 Billion Public Offer Moves Closer After Global Investor Roadshows Foreign and domestic investor interestPeople familiar with the matter said Jio Platforms has received particularly encouraging feedback from foreign institutional investors (FIIs) during recent meetings. Interest from domestic investors has also reportedly exceeded expectations.The company is monitoring market volatility closely, but investors have indicated that fluctuations are unlikely to significantly affect their interest in the offering. As per the report, the final pricing and valuation have not yet been decided and are expected to be finalised after considering investor feedback and prevailing market conditions.Jio Platforms filed its draft red herring prospectus with the Securities and Exchange Board of India (Sebi) in June. Sebi issued its final observations on August 28, clearing a key regulatory hurdle for the proposed listing. Fresh issue to fund debt repaymentThe IPO will consist entirely of a fresh issue of shares. A major portion of the proceeds will be used to repay or prepay, either fully or partially, around ₹27,500 crore of outstanding borrowings of Reliance Jio Infocomm, a subsidiary of Jio Platforms. The remaining funds will be used for general corporate purposes.Under the proposed allocation structure, half of the issue will be reserved for retail and high-net-worth individual (HNI) investors, with the other half allocated to institutional investors. The retail and HNI portion will include separate allocations based on application size.The company intends to encourage meaningful retail participation, with management seeking to provide investors an opportunity to benefit from Jio Platforms’ longer-term growth.The IPO timing, pricing and valuation remain subject to market conditions and final decisions by the company.

Jio Platforms Ltd, the digital holding company of Reliance Industries that houses Reliance Jio Infocomm, is putting the finishing touches on its much-awaited initial public offering (IPO), which could open for subscription on October 21, according to a report by CNBC TV-18.The IPO is expected to remain open until October 23, with the anchor book likely to open on October 19. The shares are targeted to list on the stock exchanges on October 28, although the timeline remains subject to market conditions and could change depending on developments in financial markets, the report added.The company has received encouraging feedback from foreign institutional investors (FIIs) and domestic investors during recent meetings, PTI reported. Jio Platforms has also wrapped up worldwide roadshows and is giving final touches to its public offer documents, according to a source aware of the development. The roadshows were led by Jio Platforms Managing Director and Reliance Jio Chairman Akash Ambani and Reliance Retail Ventures Limited Executive Director Isha Ambani.The proposed IPO is being touted as India's largest, with the issue estimated at $3.8 billion. Jio Platforms filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in June, and the market regulator issued its final observations on August 28, allowing the company to move ahead with the offering. Last month, Sebi's approval cleared the way for what is expected to be the country's largest stock-market listing.The issue will consist entirely of fresh shares, which means the money raised will go to the company rather than existing shareholders selling their holdings. A significant portion of the proceeds is expected to be used to reduce debt.Jio Platforms plans to use the funds primarily to repay or prepay, either fully or partly, around Rs 27,500 crore of outstanding borrowings of Reliance Jio Infocomm, its telecom subsidiary. The balance will be used for general corporate purposes.Jio Platforms houses Reliance's digital businesses, including its telecommunications operations. Reliance Jio Infocomm, the telecom arm of Jio Platforms, has a 32.89 per cent share of the fixed-line connections market, serving 157.9 million customers. It also has a 39.29 per cent share of the mobile connections market, with 506 million customers.Disclaimer: This article has been written by Veer Sharma, who is not a SEBI-registered Research Analyst or an Investment Adviser. Veer Sharma and his ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.

Jio Platforms is putting the finishing touches to documents for its proposed initial public offering, which could become India’s largest IPO at an estimated $3.8 billion, according to a report by PTI. The company has completed the first phase of its IPO process after conducting investor roadshows across the US, UK, Dubai, Singapore and Hong Kong. The overseas meetings were led by Jio Platforms Managing Director and Reliance Jio Chairman Akash Ambani, along with Reliance Retail Ventures Executive Director Isha Ambani.The digital services arm of Reliance Industries received approval from the Securities and Exchange Board of India (Sebi) last month to proceed with the public offering. Sebi issued its final observations on August 28, after Jio Platforms submitted its draft IPO papers in June.Jio Financial Invests ₹320 Crore, Jio Allianz Insurance JV Gets Fresh Capital IPO proceeds to repay Jio debtAccording to the draft prospectus, Jio Platforms plans to issue up to 27 crore fresh equity shares, representing about 2.9% of its post-issue equity base. The proposed offering could value the company at around $137 billion, according to earlier reports citing people familiar with the matter.A substantial portion of the proceeds will be used to repay or prepay around ₹27,500 crore of borrowings held by Reliance Jio Infocomm, Jio Platforms’ material subsidiary. The remaining funds will be allocated towards general corporate purposes. Jio expands beyond telecomJio Platforms houses Reliance’s digital businesses, including its telecommunications operations. Reliance Jio Infocomm has a 39.29% share of India’s mobile connections, with 506 million customers, while its fixed-line market share stands at 32.89%, serving 157.9 million customers.The company has also expanded into cloud services, artificial intelligence and enterprise networking, building on its telecommunications infrastructure.As of June 2026, Jio had 26.85 crore 5G customers and the largest 5G standalone network outside China, according to the company. It also had about 1.5 crore fixed wireless access subscribers.Jio Platforms reported a 15% increase in profit after tax to ₹30,053 crore in FY26, while annual revenue rose 14.5% to ₹1,46,885 crore.