Reliance Jio IPO To Open On Oct 21, Files RHP

Reliance Industries' digital and telecom subsidiary, Jio Platforms Limited (JPL), has filed its red herring prospectus (RHP) with the Registrar of Companies (ROC), Gujarat, ahead of its initial public offering (IPO), the company said in a regulatory filing on Wednesday.

The IPO will open for subscription on October 21 and close on October 23. Bidding for anchor investors is scheduled for October 19, the filing said.

The offering comprises a fresh issue of up to 27 crore equity shares with a face value of ₹10 each. The company has not disclosed the final issue price in the regulatory announcement.

The IPO includes a reservation of shares worth up to ₹500 crore for eligible Jio Platforms employees and another portion worth up to ₹2,500 crore for eligible Reliance Industries shareholders, according to the filing.

The shareholder reservation is available to individuals and Hindu Undivided Families (HUFs) who held Reliance Industries' public equity shares as of October 14, subject to applicable eligibility requirements.

The RHP follows Jio Platforms' filing of its draft red herring prospectus (DRHP) on June 19 and the subsequent receipt of an observation letter from the Securities and Exchange Board of India (SEBI) on August 28.

Jio Platforms is considering a price band of ₹1,065-₹1,119 per share, as per a report by Reuters. At the upper end of that range, the IPO could raise around $3.2 billion, valuing the company at approximately ₹10.3 lakh crore.

Jio Platforms' consolidated revenue from operations increased 14.6% to ₹1,46,885 crore in FY26, from ₹1,28,218 crore in the previous financial year, as per a report by PTI.

Net profit rose 15.1% to ₹30,049 crore from ₹26,109 crore, while earnings before interest, tax, depreciation and amortisation (EBITDA) grew 18.8% to ₹76,255 crore. The EBITDA margin stood at 51.91%.

Jio Platforms had more than 524 million subscribers, with average revenue per user (ARPU) at ₹214 in the March 2026 quarter, PTI reported.