The Jio Platforms IPO has SEBI's approval, and the company has finished its investor roadshows abroad. The issue is estimated at about ₹36,000 crore, or $3.8 billion, which would make it the largest public issue India has seen. Jio Platforms is now putting together its red herring prospectus, the near final offer document that carries the price band and the dates.
The offer is in its final stages, according to a report in The Daily Pioneer. No opening date has been announced. What exists so far is a cleared draft, a finished investor pitch and a reported size.
What SEBI has actually cleared
Jio Platforms filed its draft papers in June 2026. SEBI issued its final observations on 28 August 2026. That observation letter is the regulator's go ahead, and it stays valid for 12 months. So on paper the company has until late August 2027 to open the issue.
The draft describes up to 27 crore fresh equity shares. That is about 2.9 per cent of the equity the company will have after the IPO. No offer for sale has been reported, so the money looks set to go to the company rather than to existing shareholders.
| Item | Detail |
|---|---|
| Reported issue size | About ₹36,000 crore ($3.8 billion) |
| Shares on offer | Up to 27 crore fresh shares |
| Share of post issue equity | About 2.9 per cent |
| DRHP filed | June 2026 |
| SEBI observations | 28 August 2026 |
| Debt repayment from proceeds | About ₹27,500 crore |
| Price band and dates | Not announced yet |
Where the money goes
Most of it goes to lenders, not to new projects. About ₹27,500 crore is earmarked to repay or prepay borrowings of Reliance Jio Infocomm, the telecom arm and the group's material subsidiary. The rest is for general corporate purposes.
Do the arithmetic on the float and the scale shows up. If 2.9 per cent of the company fetches ₹36,000 crore, the whole company is being pitched at roughly ₹12.4 lakh crore. According to the same report, the expected valuation is about $137 billion, which is in the same range. Both figures are estimates. Neither is confirmed until the red herring prospectus carries a price band.
How this compares with the rest of the year
India raised a record ₹94,205 crore through IPOs in the first half of FY27, as our review of H1 FY27 fundraising showed. One Jio Platforms issue at ₹36,000 crore would be about 38 per cent of that six month total on its own. That is the simplest way to understand the size of it.
Who owns Jio Platforms today
Reliance Industries holds about 66.4 per cent. Meta put in ₹43,574 crore for 9.99 per cent and Google ₹33,737 crore for 7.73 per cent. A group of funds including Silver Lake, Vista, KKR and Mubadala put in ₹74,745 crore for roughly 15.2 per cent between them.
On the business, Jio reported 50.6 crore mobile customers and a 39.29 per cent share of the mobile market, with 26.85 crore of those users on 5G.
What happens next
Three things, in order. The red herring prospectus gets filed with SEBI and the exchanges. The price band, lot size and the open and close dates come with it or shortly after. Anchor bidding then happens one working day before the issue opens.
Until the prospectus lands, any date doing the rounds is a guess. The roadshows were led by Akash Ambani, managing director of Jio Platforms, and Isha Ambani of Reliance Retail Ventures, across the US, UK, Dubai, Singapore and Hong Kong. We will carry the band and the dates the day they are filed, and you can follow the queue on our upcoming mainboard IPO page. The full report is on The Daily Pioneer.
