Jio Platforms IPO Set to Raise ₹37,700 Crore in 2026
Jio Platforms Ltd is gearing up for a historic IPO, with significant backing from major global investors.
Jio Platforms aims to raise approximately ₹37,700 crore ($3.8 billion) in its upcoming IPO.
Major shareholders include Reliance Industries, Meta, and Google, among others.
The IPO is expected to open for subscription from October 21 to 23, 2026.
Jio Platforms Ltd (JPL) is preparing for what is anticipated to be India's largest initial public offering (IPO), projected to raise around ₹37,700 crore (approximately $3.8 billion to $4 billion). According to sources familiar with the IPO preparations, the share price is expected to be set between ₹1,065 and ₹1,119 per share. The offering will consist of up to 27 crore new equity shares, representing about 2.9% of the company's equity post-issue, and will not include an offer-for-sale (OFS) as existing shareholders are retaining their stakes.
While Jio Platforms is part of the conglomerate led by billionaire Mukesh Ambani's Reliance Industries Limited (RIL), it is noteworthy that Reliance does not hold a 100% stake in JPL. The company has a diverse shareholder base, including significant investments from Meta, Google, and other global entities. As of the latest Draft Red Herring Prospectus, JPL has a total of 105 shareholders, with the top ten holding substantial portions of the paid-up capital.
The leading shareholders include Reliance Industries Limited with 66.43%, followed by Jaadhu Holdings, LLC (an affiliate of Meta) at 9.98%, and Google International LLC at 7.73%. Other notable investors include the Public Investment Fund of Saudi Arabia and various affiliates of investment firms like KKR and Vista Equity Partners. This diverse ownership structure highlights the global interest in Jio Platforms and its digital services.
The implications of this IPO extend beyond just financial metrics; it marks a significant moment for the Indian stock market, potentially setting new records for public offerings. The approval from the Securities and Exchange Board of India (SEBI) on August 28, 2026, has paved the way for this landmark event, which is expected to attract considerable investor interest both domestically and internationally. The anticipated listing will not only enhance JPL's visibility but also contribute to the growth of the digital economy in India.
Looking ahead, the IPO is set to open for subscription from October 21 to October 23, 2026, with the expected listing date by the end of October. As Jio Platforms finalizes its preparations, the market will be closely watching the developments, particularly as the company plans to file its final IPO papers with SEBI in the week starting October 12. This IPO could redefine the landscape of public offerings in India, setting a precedent for future listings.
