Jio IPO: India’s capital markets are preparing for a major opportunity as Jio Platforms, part of Reliance Industries, takes a major step towards its public listing. The company has submitted its draft papers to the market regulator, bringing its much-anticipated IPO closer to reality. Investors are closely monitoring this development, as it could become the largest public issue in the country’s history and mark a significant milestone for a Reliance Group company in the IPO space in nearly 20 years.
Jio Platforms is targeting to raise approximately $4 billion, or approximately ₹37,700 crore, through its upcoming public issue. Based on initial estimates, the company could be valued at approximately $137 billion. This large valuation reflects its strong presence in telecom and digital services, as well as its future growth potential in technology-driven sectors.
The company received board approval for the IPO during Reliance Industries’ 49th Annual General Meeting held on June 19. Under this offering, Jio plans to issue 270 million new equity shares with a face value of ₹10. This new issue will help the company raise funds directly from the market and expand its shareholder base.
To manage this large public offering, Jio Platforms has appointed 19 investment banks as book running lead managers. These include renowned financial institutions from India and abroad, who will handle the pricing, marketing, and distribution of the IPO. Their participation reflects the scale and importance of this issue in both the domestic and global markets.
Jio Platforms operates in telecom, digital services, enterprise solutions, and new technology initiatives. Its telecom arm, Reliance Jio Infocomm, is one of India’s largest operators. The company has built a strong ecosystem by combining connectivity with digital platforms, which has helped it grow rapidly in a competitive market.
In the financial year 2025–26, the company reported revenue of ₹1.47 lakh crore, representing growth of 14.6 percent. Net profit increased 15.1 percent to ₹30,000 crore, while EBITDA increased 18.8 percent to ₹76,255 crore. Jio’s total subscriber base was 524.4 million, including 268 million 5G users, and the company aims to transition all users to 5G services by 2030.
A large portion of the funds raised, approximately ₹27,500 crore, is expected to be used to reduce or repay the debt of its telecom unit. The remaining funds will be used for general corporate purposes. Reliance Industries currently holds a 66.43 per cent stake in Jio Platforms, while global investors like Meta, Google and other funds hold smaller stakes ranging from 0.93 per cent to 9.99 per cent.
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