Jio Platforms Limited has filed its Red Herring Prospectus (RHP) with the Registrar of Companies, on Wednesday taking another key step towards its initial public offering (IPO).
The IPO for Jio Platforms, a subsidiary of Reliance Industries, will open for subscription on Wednesday, October 21, and close on Friday, October 23, 2026. The anchor investor bidding date has been scheduled for Monday, October 19.
Notably, Jio had filed its Draft Red Herring Prospectus (DRHP) on June 19, 2026, and received an observation letter from the Securities and Exchange Board of India (SEBI) on August 28, 2026.
Further, the IPO includes a reservation of shares worth up to Rs 500 crore for eligible employees of Jio Platforms, and also reserves shares worth up to Rs 2,500 crore for eligible Reliance Industries shareholders.
According to the draft papers, up to Rs 27,500 crore of the net proceeds will be used to repay or prepay borrowings, mainly linked to Reliance Jio Infocomm, with the balance for general corporate purposes.
As reported by Reuters, Jio Platforms was targeting a valuation of about $106 billion, or around Rs 10.3 lakh crore. The company was looking to raise up to about Rs 30,200 crore at the upper end of the likely price band.
The reported price band has been pegged at Rs 1,065-1,119 per share, though investors will look for final confirmation. At that valuation, Jio would rank among India’s most valuable listed companies once it debuts.
Jio IPO has already drawn more than $20 billion in bids from prospective investors, according to reports, with the global investors including Fidelity, Allianz and Capital Group.
Jio shares were trading at a premium of about Rs 218, or 19%, implying a price of Rs 1,337 per share.
Jio’s other competitors, Bharti Airtel Ltd, closed trading on 13 October with a market capitalisation of about Rs 11 trillion on NSE while the Vodafone Idea Ltd was valued at Rs 1.38 trillion.
Jio Platforms Announces IPO Dates: Issue to Open on October 21
