Jio Platforms IPO May Attract Over $20 Billion in Bids
What Happened
Reliance’s digital arm Jio Platforms Ltd. is preparing for its initial public offering (IPO), expected to open for subscription on October 21–23, 2026, with listing likely on October 28. The IPO comprises a fresh issue of 27 crore equity shares (face value ₹10 each), with no offer-for-sale component. The price band is set at ₹1,065–₹1,119 per share, targeting a fundraising of ₹28,755–₹30,213 crore. Reports indicate potential bids exceeding $20 billion, several times the issue size, from investors including Fidelity, Allianz, Capital Group, and major domestic institutions. The IPO could value Jio Platforms at ₹10.3 lakh crore ($106 billion), making it one of India’s most valuable listed companies. Proceeds will be used to repay ₹27,500 crore of debt at Reliance Jio Infocomm and for general corporate purposes.
Key Takeaways
The Jio IPO is poised to become India’s largest-ever public issue, surpassing Hyundai Motor India’s 2024 listing. Strong investor appetite highlights confidence in Jio’s telecom and digital ecosystem, but final demand and valuation will depend on subscription levels during the bidding window.