The much-awaited initial public offering (IPO) of digital services major Jio Platforms Limited is expected to open after Dussehra and before October 23, banking sources said. According to reports, Jio Platforms is expected to start an anchor round before Dussehra and is likely to list by the end of this month at an enterprise valuation of USD 143-146 billion, or above Rs 12 lakh crore. According to banking and market sources, the company has completed its international roadshows in the US, UK, Dubai, Hong Kong, and Singapore, led by Akash Ambani, Managing Director of Jio Platforms and Chairman of Reliance Jio, and Isha Ambani, Executive Director of Reliance Retail Ventures Ltd.
“Based on interest received from overseas roadshows, Jio Platforms is likely to list at a base enterprise valuation of USD 143-146 billion or at least Rs 12 lakh crore by the end of this month,” one of the banking sources said.
Touted to be India’s largest public offer
Jio Platforms IPO is touted as India’s largest public offer at an estimated size of USD 3.8 billion.
One of the event vendors said that JPL is expected to hold a roadshow for the IPO in India in the week starting October 12 after filing the red herring prospectus.
27 crore fresh equity shares
Jio Platforms had filed its draft IPO papers in June and the Securities and Exchange Board of India (SEBI) issued its final observations on August 28.
According to its draft prospectus, the company plans to issue up to 27 crore fresh equity shares, equivalent to about 2.9 per cent of its post-issue equity base.
Jio Platforms houses Reliance’s digital businesses, including its telecommunications operations.
Reliance Jio Infocomm, the telecom arm of JPL, dominates the Indian telecom market with a 32.89 per cent market share in fixed-line connections, serving 157.9 million customers, and a 39.29 per cent share in mobile connections, with 506 million customers.
Largest 5G standalone network
The company has the largest 5G standalone network outside China, with 26.85 crore 5G customers as of June 2026. Jio leads the fixed wireless access segment globally with about 1.5 crore subscribers, roughly 1.5 times the second-largest player, US-based T-Mobile.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
