Jio Platforms Likely To List By October End, Enterprise Valuation Seen Above Rs 12 Lakh Crore

Jio Platforms is expected to debut on October 31 as an enterprise valued at over Rs 12 lakh crore, according to sources familiar with the matter. The digital services company could raise approximately USD 3.8 billion through its initial public offering, sources tracking the listing told PTI. Jio Platforms has not yet commented on the potential listing.

The company has completed overseas roadshows in the US, UK, Dubai, Hong Kong, and Singapore, with investor meetings led by Akash Ambani and Isha Ambani. An Indian roadshow is anticipated following the filing of the red herring prospectus. Initial investor round discussions might commence before Dussehra, with the public offering opening post-festival but before October 23.

The Securities and Exchange Board of India (SEBI) issued its final observations on August 28 following the submission of draft papers in June. The IPO draft prospectus indicates up to 27 crore fresh equity shares, representing approximately 2.9 percent of the equity base post-issue. Reliance Industries holds around 66.4 percent of Jio Platforms, while Meta and Google jointly own about 17.7 percent.

This listing would mark the Reliance group's first IPO since 2008 and the first public offering of a consumer business within the conglomerate. Jio Platforms specializes in Reliance's digital operations, including telecom, cloud, artificial intelligence, and enterprise network services. The telecom arm alone serves 50.6 crore mobile subscribers, with Jio boasting 26.85 crore 5G customers and approximately 1.5 crore fixed wireless access subscribers as of June 2026.

For the fiscal year 2026, the company reported a profit after tax that increased by 15 percent to Rs 30,053 crore, while annual revenue rose by 14.5 percent to Rs 1,46,885 crore. Nuvama Research anticipates Jio Platforms' profit after tax to grow at a compounded annual rate of 18 percent between FY26 and FY30.