Jio Platforms IPO May Open October 21, Listing Likely on October 28, Sources Say

Jio Platforms IPO may open for subscription on October 21, with the Reliance Industries-backed company looking to raise about $3.8 billion in what could become India's biggest IPO. The shares are expected to list on October 28, according to two people familiar with the matter cited by Reuters. Reliance Industries did not respond to Reuters' request for comment.

The Jio IPO is expected to remain open until October 23, while the anchor book could open on October 19. The dates are not final and could change depending on market conditions. The company has completed overseas roadshows and is working on the final offer documents ahead of the proposed issue.

The IPO will be a fresh issue of up to 27 crore equity shares with a face value of ₹10 each, according to Jio Platforms' draft papers. There is no offer for sale, which means existing shareholders will not sell shares in the IPO. The final Jio IPO price band and issue price have not been announced.

Jio Platforms IPO Date And Listing

The current IPO schedule points to the anchor book opening on October 19, followed by the Jio IPO Date from October 21 to October 23. Jio Platforms shares are expected to list on the stock exchanges on October 28.

Jio Platforms filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India on June 19. The proposed issue is a 100% book-built offer and the shares are proposed to be listed on the BSE and NSE.

The company has also completed meetings with domestic and overseas investors ahead of the IPO. Jio Platforms Managing Director Akash Ambani and Reliance Retail Ventures Executive Director Isha Ambani led the international roadshows, according to reports.

Jio Platforms IPO Size And Issue Details

Jio Platforms is looking to raise about $3.8 billion through the IPO, according to Reuters. If the issue goes ahead at that size, it would surpass Hyundai Motor India's $2.9 billion IPO in 2024 and become India's biggest public listing.

The draft papers provide for a fresh issue of up to 27 crore shares. The final rupee value of the issue will depend on the price at which the shares are offered. Jio Platforms has not yet officially announced the price band or final issue size.

A large part of the money raised through the IPO is proposed to be used to repay or prepay borrowings of Reliance Jio Infocomm, Jio Platforms' telecom subsidiary. Around ₹27,500 crore has been earmarked for repayment or prepayment of borrowings, while the remaining proceeds will be used for general corporate purposes, subject to the limits stated in the offer documents.

Under the IPO allocation, 50% of the net issue will be available for qualified institutional buyers, at least 15% for non-institutional investors and at least 35% for retail individual investors, subject to the terms of the final offer.

Jio Platforms houses Reliance Jio Infocomm and also operates businesses across AI, cloud computing and enterprise networks. Meta and Google are among its major foreign investors. Reliance Jio Infocomm had 524.4 million customers as of March 31, 2026, including 268.5 million 5G users.

The Jio IPO price band, lot size and final issue schedule are still awaited. Jio's official IPO page currently carries the draft offer documents, while the October 21 opening and October 28 listing dates are based on reports citing people familiar with the plans.

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