Jio Platforms files RHP for IPO of up to 27 crore shares; issue to open on October 21

Jio Platforms Limited (JPL), the digital services subsidiary of Reliance Industries, has filed its Red Herring Prospectus (RHP) for its proposed initial public offering (IPO), with the public issue scheduled to open for subscription on October 21 and close on October 23, 2026.

In a regulatory disclosure on Wednesday, JPL said it had filed the RHP dated October 14 with the Registrar of Companies, Gujarat, at Ahmedabad. The proposed IPO will comprise a fresh issue of up to 27 crore equity shares, each with a face value of ₹10.

The filing follows the submission of the company's Draft Red Herring Prospectus (DRHP) on June 19, 2026, and the receipt of an observation letter from the Securities and Exchange Board of India (SEBI) on August 28.

Jio Platforms IPO: Key dates

The anchor investor bidding date has been scheduled for Monday, October 19, ahead of the opening of the public issue on Wednesday, October 21. The IPO will close on Friday, October 23.

The company has not disclosed the price band, minimum investment amount or the valuation at which the shares will be offered in the announcement. These details will be important for investors assessing the offering.

The RHP filing marks a significant step in the IPO process, following the draft prospectus and SEBI's observations. The issue's final terms and other details will be available through the relevant offer documents.

Up to ₹3,000 crore reserved for employees and Reliance shareholders

The proposed IPO includes reservations for eligible employees and eligible shareholders of Reliance Industries.

Jio Platforms has earmarked shares worth up to ₹500 crore for subscription by eligible employees. A separate reservation of shares worth up to ₹2,500 crore has been provided for eligible Reliance Industries shareholders.

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The shareholder reservation will be open to individuals and Hindu Undivided Families (HUFs) who hold Reliance Industries shares, either directly or through a karta, subject to applicable eligibility conditions.

The company said the reservation would exclude individuals who are not eligible to invest in the IPO under applicable laws, rules, regulations and guidelines as of October 14, 2026.

Together, the two reservations amount to up to ₹3,000 crore. These are reservation limits specified in the filing and should not be interpreted as the final allocation or the total size of the IPO.

Fresh issue structure

The announcement describes the offering as a fresh issue of up to 27 crore equity shares. It does not mention an offer-for-sale component.

A fresh issue involves a company issuing new shares to investors, with the proceeds accruing to the company, subject to the terms outlined in the offer documents.

Investors will be watching for the price band, issue valuation, use of proceeds and other financial disclosures as the IPO moves towards its opening date.

The three-day subscription window will give eligible investors an opportunity to participate once the final offer details are announced.

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Jio Platforms IPO could set a new record

Jio Platforms' proposed IPO could surpass Hyundai Motor India's ₹27,870 crore public issue in 2024 to become India's largest-ever IPO, depending on the final issue size. Market estimates have placed the company's potential valuation at around ₹10.4 lakh crore, although the final valuation will depend on the offer price and share structure.

The offering would also mark a major milestone for the Reliance Industries Group in the primary market. Reliance Petroleum's April 2006 IPO was the group's last major public issue, while Jio Financial Services was listed separately following its demerger from Reliance Industries. Investors will now await the price band and final issue details to assess the offering.

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