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Jio Platforms, the digital services arm of Reliance Industries, has opened its Rs 30,213 crore initial public offering (IPO) for subscription on Wednesday. The issue will close on October 23. The company has fixed the price band at Rs 1,065-1,119 per share. The IPO comprises a fresh issue of 27 crore equity shares, with no offer-for-sale component. The issue includes a reservation of shares worth up to Rs 500 crore for eligible employees and Rs 2,500 crore for eligible shareholders of Reliance Industries. Ahead of the public issue, Jio Platforms raised Rs 8,110crore from 212 anchor investors on October 19. The anchor book attracted bids worth nearly Rs 2.5 lakh crore, more than 30 times the amount allocated to these investors. During the anchor investments, participants included global investors such as BlackRock, Capital Group, Fidelity Investments and T. Rowe Price, along with domestic mutual funds and insurers took part. Jio Platforms plans to use Rs 27,500 crore from the IPO proceeds to repay part of the borrowings of its subsidiary, Reliance Jio Infocomm. The remaining proceeds will be used for general corporate purposes. Jio Platforms houses Reliance Industries’ telecom and digital businesses, including Reliance Jio Infocomm, which offers mobile connectivity, fixed broadband and digital services. The company has been expanding its presence in 5G, digital applications and artificial intelligence. Reliance Jio Infocomm had 533.3 million subscribers at the end of June 2026, making it one of the country's largest telecom operators. Global technology companies Meta and Google invested in Jio Platforms in 2020, alongside several private equity and other institutional investors. The IPO is among India's largest public offerings and marks a major step in the listing of Reliance Industries' digital business. The shares are scheduled to list on the BSE and NSE on October 28.
document fetched 2026-10-24 11:25