Jio Platforms, the digital and telecom arm of Reliance Industries, is set to launch its much-anticipated initial public offering (IPO) on October 21, 2026, according to people familiar with the development. The shares are expected to make their stock market debut on October 28.
The proposed IPO is expected to raise around $3.8 billion (approximately Rs 37,700 crore), potentially making it the largest public offering in India to date. The issue would surpass Hyundai Motor India’s Rs 27,870 crore IPO, which had held the record since its 2024 listing.
While the reported dates have emerged from sources familiar with the matter, Reliance Industries has not officially confirmed the IPO launch or listing dates. The company had earlier received regulatory clearance for the proposed issue, paving the way for Jio Platforms to enter the public markets.
Jio Platforms plans to issue 27 crore fresh equity shares, each having a face value of Rs 10. The issue price will be determined through the book-building process. Reliance Industries had approved the draft red herring prospectus (DRHP) for the IPO in June.
A substantial portion of the IPO proceeds is expected to be used to repay debt and borrowings of Reliance Jio Infocomm, Jio Platforms’ telecom subsidiary. Reports indicate that around Rs 27,500 crore could be allocated towards debt repayment, with the remaining proceeds intended for general corporate purposes.
The IPO will also give public-market investors a more direct opportunity to participate in Jio Platforms, which currently sits within Reliance Industries’ larger corporate structure.
Jio Platforms has expanded beyond its core telecom business into areas including AI, cloud computing and enterprise network services. The company also counts global technology companies such as Meta and Google among its major investors.
The proposed listing comes after years of rapid expansion in Jio’s subscriber base and digital ecosystem. The company had more than 533 million subscribers as of June 2026, according to its regulatory filings.
For FY26, Jio Platforms reported revenue of around Rs 1.46 lakh crore and a profit of approximately Rs 30,049 crore, according to reports.
Jio’s proposed listing comes at a time when India’s IPO market is witnessing strong activity. Companies have raised record amounts from the primary market during the April-September period of 2026, while several large businesses are also preparing to tap public markets.
If Jio proceeds with the reported Rs 37,700 crore issue, it would mark a significant milestone for India’s capital markets and become the country’s largest-ever IPO, putting the telecom and digital services business directly under the scrutiny of public-market investors.
