One of the most anticipated Initial Public Offerings (IPOs) in India is the Jio IPO. As early as 2019, Mukesh Ambani, Managing Director of Reliance Industries, mentioned the company's plans to spin off Jio separately within five years at the annual shareholders' meeting. Following significant market share growth and portfolio expansion in recent years, Jio Platforms Limited filed its Draft Red Herring Prospectus (DRHP) with SEBI on June 19, 2026.
The upcoming IPO will provide retail investors with an opportunity to invest in one of the most interesting and modern businesses of the Reliance group. Jio Platforms Limited is the flagship for Reliance's digital services and digital connectivity. Its key operating subsidiary, Reliance Jio Infocomm, provides mobile, broadband, and enterprise communication services across India. The business is also present in digital entertainment, cloud technologies, artificial intelligence, and other digital services.
The Jio IPO will be a fresh issue of up to 270 million shares with a face value of ₹10 each. The final offer price will be determined through the book-building process. Since the offering does not include an Offer for Sale (OFS) component, existing shareholders will not sell their shares, and all proceeds from the issuance will go towards raising capital for the company itself.
According to the submitted data, Jio Platforms Limited has Reliance Industries Limited as its promoter. The IPO type is a 100% fresh issue, involving the issuance of up to 270 million shares with a nominal value of ₹10 per share, with a proposed listing on NSE and BSE. The size of the upcoming IPO, amounting to up to 270 million shares, represents approximately 2.9% of the post-issue equity capital. Market reports estimate the potential offering size at around ₹37,700 crore.
Jio enters the IPO process with a vast customer base and a growing digital business. At the end of the fiscal year 26, Jio Platforms had 524.4 million customers. Operating revenue was approximately ₹1.47 lakh crore, and EBITDA was ₹76,255 crore, while Profit After Tax (PAT) reached about ₹30,049 crore. In addition to traditional telecom offerings, the business is expanding to include fixed broadband access, enterprise connectivity, cloud services, digital entertainment, IoT, and AI-related products.
Investors should note several points. Firstly, valuation; the final price band will determine the entry cost for investors, and the large size of the IPO does not guarantee a high or attractive valuation. Secondly, a significant portion of the IPO funds is planned for the repayment or early repayment of borrowings, allocated up to ₹27,500 crore. Thirdly, business concentration must be considered: telecommunications remains a vital part of Jio's operations, so investors should analyze competition, pricing, subscriber growth, capital expenditure, and regulatory changes alongside the company's new digital ventures.
Finally, investors are advised to wait for the Red Herring Prospectus (RHP) and final IPO details before applying. The price band, lot size, subscription dates, and final issue size will provide a clearer picture of the public offering. The launch of the Jio IPO has approached due to the filing of the DRHP and receipt of observations from SEBI. However, since the final price band, issue size, and subscription dates have not yet been determined, investors should evaluate the company's financial performance, projected use of funds, and business prospects before applying.