Reliance Jio Platforms is preparing to launch India’s largest-ever initial public offering worth around Rs 37,800 crore in late October or early November 2026. The company is targeting the auspicious Navratri festival period from October 11 to 20 for the IPO launch, with Diwali on November 8 as a backup date if needed. The Securities and Exchange Board of India cleared the IPO on August 28 after the company filed its draft papers in June.
India’s Biggest IPO Set to Break Records
The Rs 37,800 crore issue will surpass the Hyundai Motor India IPO of Rs 27,000 crore and the upcoming NSE IPO of Rs 31,000 crore. Jio Platforms will issue 27 crore new shares, representing around 2.9 percent of its total equity. The IPO is a fresh issue with no offer-for-sale component from existing shareholders.
Reliance Returns to Public Markets After Two Decades
This marks the first Reliance Group IPO in nearly 20 years since Reliance Petroleum went public in 2006. Banking sources say the company will begin its roadshow campaign within weeks to attract investors. The global roadshow will run for three weeks followed by two weeks of domestic presentations across India.
Funds to Repay Debt and Fuel Growth
Around Rs 27,500 crore of the IPO proceeds will be used to prepay loans of Jio’s operating company RJIL ahead of schedule. The remaining funds will support other business requirements. Jio Platforms can also provide funding to its subsidiary RJIL through shares, preference shares, debentures or loans.
Global Tech Giants Hold Major Stake in Jio
Large institutional investors currently hold about 30.9 percent of Jio Platforms. Meta owns 9.98 percent through its Jadhu Holdings entity, while Google International holds 7.73 percent. Other marquee investors include Saudi Arabia’s PIF, Silver Lake, Vista Equity, General Atlantic, KKR and Abu Dhabi’s ADIA.
