Jio platforms IPO in final stages
Jio Platform is giving final touches to its public offer documents, touted as India’s largest at an estimated $3.8 billion, after concluding worldwide roadshows, according to a source aware of the development.
The roadshows overseas were led by Jio Platforms Managing Director and Reliance Jio Chairman Akash Ambani and Reliance Retail Ventures Limited Executive Director, Isha Ambani.
“Jio Platforms has completed the first leg of the IPO after roadshows with potential investors globally. The roadshows were held in the US, UK, Dubai, Singapore and Hong Kong. Now, the company has started preparations for filing a red herring prospectus,” a source aware of the development.
An email query sent to Jio Platforms elicited no response. The digital services arm of billionaire Mukesh Ambani’s Reliance Industries, Jio Platforms, last month received approval from markets regulator Sebi to proceed with its initial public offering, paving the way for what would be the country’s largest stock-market listing.
The Securities and Exchange Board of India (Sebi) had issued its final observations on August 28. Jio Platforms had filed its draft IPO papers in June.
According to its draft prospectus, the company plans to issue up to 27 crore fresh equity shares, equivalent to about 2.9 per cent of its post-issue equity base. The offering could value Jio Platforms at about $137 billion, people familiar with the matter had earlier indicated.
The proceeds will be used primarily to repay or prepay, in whole or in part, about `27,500 crore of outstanding borrowings of Reliance Jio Infocomm Ltd, Jio Platforms’ material subsidiary, according to the draft prospectus.
The remainder is earmarked for general corporate purposes. The public offering comes as India’s primary market has remained active, with strong participation from retail investors and domestic institutions.
More than two dozen IPOs have been announced or launched since July 1, nearly matching the 28 recorded in the first half of 2026.
Jio Platforms houses Reliance’s digital businesses, including its telecommunications operations.
Reliance Jio Infocomm, the telecom arm of JPL, dominates the Indian telecom market with a 32.89 per cent market share in fixed-line connections, serving 157.9 million customers, and a 39.29 per cent share in mobile connections, with 506 million customers.JPL has the largest 5G Standalone network outside China, with 26.85 crore 5G customers as of June 2026. Jio leads the Fixed Wireless Access segment globally with about 1.5 crore subscribers, roughly 1.5 times the second-largest player, US-based T-Mobile.
