Jio Platforms opens India's biggest IPO on 21 October
Reliance's Jio Platforms seeks up to 30,213 crore rupees, about 3.2 billion dollars, at 1,065-1,119 rupees a share. Subscription runs 21-23 October, with listing expected on 28 October.
Jio Platforms, the digital and telecom subsidiary of Reliance Industries, opens its initial public offering on 21 October 2026. At up to 30,213 crore rupees, about 3.2 billion dollars, it is set to become the largest IPO in India's history, ahead of the 27,860 crore rupees raised by Hyundai Motor India in October 2024.
The price band is 1,065 to 1,119 rupees per share. Anchor investors bid on 19 October, the offer for the public runs from 21 to 23 October, and the shares are expected to list on the BSE and NSE on 28 October. According to The Sunday Guardian, the offer consists of up to 27 crore new shares, so the money raised goes to the company rather than to existing shareholders. Portions are reserved for employees and for Reliance Industries shareholders.
At the top of the range the company would be valued at about 10.3 lakh crore rupees, roughly 108 billion dollars, which would make it India's fourth-largest listed company by market value, behind Reliance Industries, Bharti Airtel and HDFC Bank. Meta and Google are among its investors.
Analysts quoted by Onmanorama see possible listing gains of 15% to 20% based on market indicators, while noting that long-term returns depend on how well Jio earns money from its very large user base.
Why it matters: the most important IPOs of 2026 are no longer only American. A listing of this size tests how much foreign and domestic capital the Indian market can absorb at once.