Jio Platforms, the digital and telecom business of Reliance Industries, opened its $3.2 billion initial public offering (IPO) for public subscription on Wednesday (October21), in what is set to become India’s largest-ever share sale.
The IPO is priced between ₹1,065 and ₹1,119 per share and will remain open until October 23. The offering could value the company at up to $108.3 billion, with its shares scheduled to list on October 28.
The IPO marks the first public offering from billionaire Mukesh Ambani’s Reliance group in two decades. Around one-third of the shares on offer have been reserved for retail investors, while employees and eligible Reliance shareholders can also participate.
Ahead of the public launch, Jio Platforms attracted strong interest from institutional investors. The company allotted shares worth approximately $853 million to investors, including BlackRock and the Abu Dhabi Investment Authority, after the institutional bidding portion received demand exceeding $25 billion.
Jio Platforms operates across telecommunications, broadband, digital entertainment, cloud computing and artificial intelligence. Its telecom business has more than 500 million subscribers, making it one of the largest telecom operations in the world.
The company reported revenue of around $15.5 billion and a profit of $3.2 billion for the financial year ended March 2026. However, roughly 90% of these figures came from its telecom business, highlighting its continued dependence on connectivity services.
The IPO comes as investors closely examine technology companies’ valuations and future growth prospects. While strong institutional demand signals interest in Jio’s business, the response from public investors and the company’s performance after listing will be closely watched.
The proceeds are expected to support the company’s financial plans, including reducing borrowings at its telecom subsidiary, Reliance Jio Infocomm.