Winning Bizness Desk
Mumbai.Reliance Industries’ digital arm Jio Platforms may launch its initial public offering (IPO) on October 21, with the issue expected to raise around Rs 37,700 crore, according to Reuters. If launched at this size, the offering will become India’s biggest IPO, overtaking Hyundai Motor India’s Rs 27,858-crore issue in 2024.
The proposed listing will put Reliance’s consumer-facing digital and telecom businesses directly in the public markets and mark a major milestone for the group.
Jio IPO could raise around Rs 37,700 crore
Jio Platforms is expected to raise about Rs 37,700 crore through the proposed IPO. The issue will be entirely a fresh issue, meaning existing shareholders will not sell their shares as part of the offering.
As a result, the money raised through the IPO will go directly to the company rather than to existing investors. The issue will also become the largest public offering in India if it comes through at the reported size.
- Proposed IPO launch: October 21
- Expected fund raising: around Rs 37,700 crore
- Issue type: Entirely fresh issue
- Existing shareholders: No offer for sale
- Reliance group to return to IPO market
The Jio Platforms listing will be the first IPO from a Reliance group company in nearly two decades. It will also mark the first public listing of a consumer-facing business from the Reliance group. At Reliance Industries’ 49th annual general meeting on June 19, chairman Mukesh Ambani had announced that the company’s Draft Red Herring Prospectus (DRHP) had received approval. The proposed IPO therefore represents an important step in Reliance’s plans to take its digital and consumer businesses to public markets.
Most IPO proceeds will repay Jio Infocomm debt
A major portion of the money raised through the issue will be used to reduce debt at Reliance Jio Infocomm. Around Rs 27,500 crore from the IPO proceeds will be used for debt repayment. The remaining funds will be used for general corporate purposes. The amount allocated for such general corporate purposes will be capped at 25% of the total issue size.
This structure means the bulk of the capital raised will be directed towards strengthening Jio’s financial position through debt reduction.
Jio remains India’s largest telecom operator
Jio Platforms operates the country’s largest telecom network and has continued to expand its subscriber base. At the end of FY26, the company had 52.44 crore subscribers, compared with 48.82 crore at the end of FY25. The increase reflects the continued expansion of Jio’s telecom business and its growing customer base across India.
Jio combines telecom network with technology
Jio Platforms is the technology arm of Reliance Industries and is headquartered in Mumbai. Its operations extend beyond providing mobile connectivity in India. The company operates a large 5G network and also provides advanced 5G services and technology to telecom companies in other parts of the world.
Its technology portfolio includes:
- 5G-related software and network services
- Artificial intelligence tools
- Cloud-based network capabilities
- Technology for enterprise and private networks
- These technologies allow large companies and private networks to deploy 5G services using cloud-based infrastructure.
Ambani says listing will showcase Indian technology
Mukesh Ambani has described the proposed Jio listing as an opportunity to demonstrate India’s ability to build technology companies with global scale and value. Jio Platforms has developed a technology ecosystem that combines telecommunications, digital services, 5G infrastructure and artificial intelligence. The IPO will therefore give public-market investors an opportunity to participate directly in one of Reliance’s most prominent consumer and technology businesses.
If the issue is launched at around Rs 37,700 crore, it will comfortably surpass Hyundai Motor India’s Rs 27,858-crore IPO and set a new record for the largest IPO in the country. The offering will also bring one of India’s biggest digital businesses into the listed market while providing Reliance with fresh capital for debt reduction and corporate requirements.
