Reliance Industries (RIL) has informed the bourses that its telecom subsidiary Jio Platforms has filed its red herring prospectus with the RoC, Ahmedabad, for an IPO that is set for public subscription on October 21 and close on October 23. Anchor bidding for the issue will take place on October 19 (Monday).
The IPO will comprise a fresh issue of up to 27 Cr equity shares with a face value of ₹10 each. As per erstwhile reports, Jio’s IPO size is expected to be over ₹30,000 Cr.
RIL informed that the IPO will compose a ₹500 Cr portion reserved for eligible employees and up to ₹2,500 Cr for eligible shareholders of RIL. The shareholder reservation is open to eligible individual and Hindu Undivided Family (HUF) public equity shareholders of Reliance Industries as of October 14, 2026, subject to applicable eligibility conditions.
The bidding date for anchor investors is October 19, while the IPO will open for public subscription on October 21 and close on October 23, 2026.
Jio had filed its draft RHP for a fresh issue-only IPO back in June and received an observation letter from SEBI in August.
According to the DRHP, the proceeds will primarily be used to prepay or repay certain borrowings of its material subsidiary, Reliance Jio Infocomm Ltd (RJIL). Jio plans to deploy ₹27,500 Cr towards these repayments, with the remaining proceeds earmarked for general corporate purposes, subject to the stipulated limit.
The proposed IPO could be among the largest public issues in India and will mark a significant milestone for Reliance Industries’ digital and telecom business. Jio Platforms, which houses telecom operator Reliance Jio Infocomm and other digital businesses, has attracted over $20 Bn from investors, including Meta, Google, KKR, Silver Lake and General Atlantic.
Reliance Industries held a 66.43% stake in Jio Platforms, while Meta and Google held 9.98% and 7.73%, respectively, according to the DRHP. The company reported a 15% year-on-year rise in FY26 net profit to ₹30,053 Cr, while operating revenue grew 15% to ₹1.72 Lakh Cr.
(The story will be updated shortly)
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