The subsidiary of the Reliance Industries conglomerate, Jio Platforms Ltd, is gearing up for a record initial public offering (IPO) on October 21. The Jio Platforms’ IPO is officially set to be the largest-ever public offering in the India stock market history, with the issue size estimated at nearly ₹30,213 crores ($3.2 billion). Thereby, Jio’s IPO also overtakes the 2024 record of Hyundai Motor India’s IPO, which had been issued at ₹27,859 crores.
On Thursday (October 15), Jio Platforms’ IPO announcement propelled the shares of Reliance Industries by 3% to ₹1,207 on the Bombay Stock Exchange (BSE).
The IPO Launch Timeline
The historic IPO will open for subscription on October 21 and the bidding will close on October 23, with the public issue open for a total of three days. The anchor bidding window is scheduled for October 19. Anchor bidding refers to the designated time period where qualified institutional buyers (QIBs), like Mutual Funds and insurance companies, purchase shares before the official IPO opens for subscription to the general public.
The allotment finalisation by KFin Technologies (Registrar) occurs on October 26. Finally, October 28 marks the day of the momentous listing of Jio Platforms’ IPO, with the company’s shares being publicly traded on the stock exchange from 10:00 AM.
A summary of the IPO timeline is given below:
Anchor booking: 19 October 2026
IPO opens: 21 October 2026
IPO ends: 23 October 2026
Allotment finalisation: 26 October 2026
Listing and trading: 28 October 2026
Details of the Jio IPO
Jio Platforms filed its Red Herring Prospectus (RHP), the mandatory legal document before an IPO, with the Registrar of Companies (RoC) in Gujarat. The digital giant’s IPO is completely a fresh issue with no Offer For Sale (OFS) part, where the Jio IPO will issue 27 crore shares.
The price band for the IPO ranges between ₹1,065 and ₹1,119 per share, and the employee discount rate stands at ₹54 per share for eligible employees booking in the employee reservation portion. Furthermore, ₹2,500 crores worth of shares are earmarked for the eligible shareholders of Reliance Industries.
After the IPO issue, Jio Platforms is poised to become the third or fourth largest listed company, with a projected valuation of ₹10.3 lakh crores ($108.25 billion) at the upper end.
The digital giant estimates to mobilise ₹37,700 crores (closely $4 billion) post its IPO.
Jio Platforms holds at least 524 million subscribers, with its average revenue per user (ARPU) recorded at ₹214 for the March 2026 quarter.