Our Bureau
Mumbai
Jio Platforms, the digital services arm of Reliance Industries, is likely to list on Indian stock exchanges by the end of October, with the proposed initial public offering (IPO) expected to raise around $3.8 billion, according to people familiar with the development. The company could command an enterprise valuation of $143-146 billion, or more than Rs 12 lakh crore, making it potentially the largest public offering in India.
The company has completed overseas roadshows in the US, UK, Dubai, Hong Kong and Singapore and is expected to submit its final IPO documents to the Securities and Exchange Board of India (SEBI) in the week beginning October 12. An India roadshow is also expected to follow. Banking sources indicate that the anchor round could begin before Dussehra, with the issue opening after the festival and before October 23.
SEBI issued its final observations on Jio Platforms’ IPO on August 28, after the company filed its draft papers in June. The draft prospectus proposes the issue of up to 27 crore fresh equity shares, representing around 2.9% of the post-issue equity base.
Jio Platforms houses Reliance’s digital businesses, including Reliance Jio Infocomm, which holds a leading position in India’s telecom market. Jio had 506 million mobile customers and 157.9 million fixed-line customers, according to figures cited in the latest reports. Its 5G network had 26.85 crore customers as of June 2026.
The IPO comes amid an active Indian primary market, with more than two dozen IPOs announced or launched since July. The listing would also mark the first public offering from the Reliance group since 2008 and its first consumer-focused IPO.