Jio IPO To Open For Subscription On October 21

Reliance Industries has disclosed that its telecom arm, Jio Platforms, has submitted the necessary paperwork with the RoC, Ahmedabad, for an Initial Public Offering (IPO) set to commence public subscription on October 21, 2026, with a close date of October 23, 2026. Anchor bidding for the issue is scheduled for October 19, 2026.

The IPO will involve a fresh issuance of up to 27 crore equity shares, each bearing a face value of ₹10. Initial reports suggest the IPO size could exceed ₹30,000 crore. RIL revealed that a ₹500 crore portion of the IPO will be earmarked for eligible RIL employees, while up to ₹2,500 crore will be reserved for eligible RIL shareholders, including individual and Hindu Undivided Family (HUF) public equity shareholders as of October 14, 2026, subject to applicable conditions.

The anchor investor bidding will take place on October 19, with the public subscription commencing on October 21 and concluding on October 23, 2026. Jio Platforms filed its draft red herring prospectus (RHP) for a fresh issue-only IPO in June and received an observation letter from SEBI in August. The proceeds from the IPO will primarily be utilized to prepay or repay certain borrowings of Reliance Jio Infocomm Ltd (RJIL), with the remaining funds allocated for general corporate purposes, not exceeding the stipulated limit.

The proposed IPO is anticipated to be among the largest public offerings in India and will mark a significant milestone for Reliance Industries' digital and telecommunications division. Jio Platforms, encompassing Reliance Jio Infocomm and other digital ventures, has garnered over $20 billion from investors such as Meta, Google, KKR, Silver Lake, and General Atlantic.

Reliance Industries holds a 66.43% stake in Jio Platforms, while Meta and Google each own 9.98% and 7.73%, respectively, as per the draft RHP. The company reported a 15% year-on-year increase in net profit for FY26 to ₹30,053 crore, with operating revenue growing 15% to ₹1.72 lakh crore.