Jio Platforms Files RHP for India’s Biggest IPO: Rs 28,755–30,000 Crore Issue Opens on 21 October

Jio Platforms has filed its Red Herring Prospectus (RHP) with the Registrar of Companies in Ahmedabad for its initial public offering. At roughly Rs 28,755 crore to Rs 30,000 crore, it would be the biggest IPO in Indian history. The issue opens for public subscription on 21 October and is a pure fresh issue, with no offer for sale.

The company is the digital services arm of Reliance Industries. For more, see our Jio coverage and IPO news.

Jio Platforms IPO at a Glance

Why This IPO Is a Record

At the reported upper price band, the issue could raise up to about Rs 30,200 crore. That would put it ahead of Hyundai Motor India’s roughly Rs 27,800 crore IPO in 2024, the previous largest in the country.

The numbers fit together. Multiplying 27 crore shares by the reported lower band of Rs 1,065 gives about Rs 28,755 crore, which is the low end of the issue size. The upper band of Rs 1,119 gives roughly Rs 30,200 crore.

All Fresh Issue, No Offer for Sale

The offer has two clear features:

• 100% fresh issue: all the money raised goes to the company, not to existing shareholders selling their stakes.
• No offer for sale: existing investors are not cashing out through this IPO.

Reservations for Reliance Shareholders and Employees

Jio has set aside up to Rs 3,000 crore in reservations, which are limits and not final allocations:

• Reliance shareholders: up to Rs 2,500 crore, open to individuals and HUFs who hold Reliance Industries shares directly or through a karta. Eligibility is based on holdings as of 14 October 2026, subject to regulatory rules.
• Employees: up to Rs 500 crore for eligible employees.

Timeline: From Filing to Listing

1. 19 June 2026: draft prospectus (DRHP) filed.
2. 28 August 2026: SEBI issued its observation letter.
3. 14 October 2026: RHP filed with the Registrar of Companies, Gujarat, at Ahmedabad.
4. 19 October: anchor investors bid.
5. 21–23 October: public subscription window.

Allotment and listing dates will follow in the RHP and exchange notices.

What Retail Investors Should Check

Before bidding, read the RHP on the SEBI or exchange websites and check the final price band, lot size, use of proceeds and risk factors. Check the price band in particular, because it was reported by media and final confirmation was still awaited at the time of writing. This is information, not investment advice, and IPO subscriptions carry market risk.

Source: BusinessToday; Kotak Neo; Jio on Wikipedia; SEBI.

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