Mukesh Ambani-led Jio Platforms IPO likely by October 21: Reuters

The much-awaited Jio Platforms’ initial public offering might just be around the corner. A recent report by Reuters stated that the Mukesh-Ambani led tech firm is likely to open its issue for subscription on October 21. There is no official announcement yet. Financialexpress.com reached out to Reliance Industries, and we will update as soon as we get an update.

According to Jio Platform’s draft red herring prospectus, the company’s IPO is entirely a fresh issue of 27 crore equity shares, each carrying a face value of Rs 10. As per various reports, Jio Platforms seeks to raise nearly Rs 37,700 crore via the Indian primary markets, making it potentially the country’s largest public issue.

Sources cited by Reuters added that shares of Jio Platforms are expected to list on the BSE and NSE on October 28.

Kotak Mahindra Capital Company is the book-running lead manager for the issue, while KFin Technologies is acting as its registrar.

Eligible employees are permitted to bid for shares up to Rs 5,00,000 under the employee reservation portion. However, if the segment is undersubscribed or oversubscribed, the bids would be capped at Rs 2,00,000.

Up to 50% of the issue shall be reserved for Qualified Institutional Buyers (QIBs), around 15% of the offer shall be made available for non-institutional buyers, and nearly 35% of the offer will be available for retail individual investors.

As per its draft papers, of the total fresh proceeds, Jio will deploy Rs 27,500 crore towards the prepayment of its debts and certain outstanding borrowings availed by its subsidiary Reliance Jio Infocomm. The remaining capital is likely to be utilised for general corporate purposes.

The share price band for the issue has not been announced yet.

For the financial year ended March 31, 2026, Jio Platforms posted its revenue from operations at Rs 1.46 lakh crore against Rs 1.28 lakh crore reported in the same period the previous year. Its restated consolidated profit for the year was posted at Rs 30,049 crore, rising 15% year-on-year from Rs 26,109 crore reported in FY25.

Jio Platforms, a subsidiary of Reliance Industries, operates across telecom and digital services in India. Its network combines nationwide connectivity with a digital technology platform, allowing users to access internet and other digital services.

As of March 31, 2026, Jio held around 50% of India’s wireless broadband market and carried nearly 60% of the country’s wireless data traffic. Reliance Jio Infocomm had 524.4 million customers at the end of FY26, with the business serving both individual consumers and enterprise customers.