THEBUSINESSBYTES
BUREAU
MUMBAI,
AUGUST 28, 2026
Jio Platforms Ltd,
the digital services powerhouse of billionaire Mukesh Ambani’s Reliance
Industries Ltd, has secured the final approval from the Securities and Exchange
Board of India (SEBI) to proceed with its much-anticipated initial public
offering (IPO).
With a proposed issue
size of around ₹37,700
crore ($3.8 billion), the offering is set to become India’s largest
stock-market listing, surpassing Hyundai Motor India’s ₹27,870-crore-equivalent
IPO of 2024.
According to people familiar
with the matter, the IPO could value Jio Platforms at approximately $137
billion, underscoring the scale and investor expectations surrounding
Reliance’s digital businesses.
Jio Platforms had
filed its draft IPO papers with Sebi in June. The company plans to issue up to
27 crore fresh equity shares, representing roughly 2.9 per cent of its
post-issue equity base.
A significant portion
of the proceeds — around ₹27,500
crore — is expected to be used to repay or prepay, wholly or partly,
outstanding borrowings of Reliance Jio Infocomm Ltd, a key subsidiary of Jio
Platforms. The balance will be deployed for general corporate purposes.
The proposed issue is
also expected to be substantially larger than the National Stock Exchange’s potential
IPO, estimated at around ₹30,000
crore.
The approval comes at
a time when India’s primary market is witnessing strong activity, supported by
robust participation from retail investors and domestic institutions. More than
two dozen IPOs have been announced or launched since July 1, nearly matching
the total recorded during the first half of 2026.
Jio Platforms’
listing could therefore, become a defining moment for India’s equity markets,
bringing one of the country’s most closely watched digital businesses into the
public markets.
Jio Platforms houses Reliance’s digital businesses, including its telecommunications operations. Its flagship telecom arm, Reliance Jio Infocomm, had more than 53.3 crore subscribers as of June-end, making it the world’s second-largest mobile operator by subscriber count, behind China Mobile, according to company data.
The IPO is poised to give public-market investors a direct opportunity to participate in the growth story of one of India’s largest digital ecosystems.
