Reliance Industries announced on Wednesday evening that its subsidiary Jio Platforms will launch an initial public offering. The platform plans to raise ₹30,213 crore, the largest fund raising via IPO in the country. The announcement was made on Wednesday evening and the IPO is scheduled to be the biggest share sale in India. The news was reported on Thursday, October 15.

Reliance Industries shares rose as much as 2.86% to an intraday high of ₹1,209.60. Reliance Industrial Infrastructure, the logistical solution provider to Reliance Industries, shares advanced 13% to an intraday high of ₹789.95. Shares of its media venture, Network 18, climbed 4.45% to an intraday high of ₹27.67 and shares of Jio Financial Services gained 1.3% to ₹221.40.

The IPO will price shares in the price band of ₹1,065 to ₹1,119 per share. At the upper end of the price band, Jio Platforms' market capitalisation is valued at ₹10.30 lakh crore. The company has reserved 50% shares in the IPO for qualified institutional buyers, 15% for non-institutional investors and 35% for retail investors.

A retail investor can bid for a minimum one lot of 12 shares up to a maximum of 14 lots. At the upper end of the price band, one lot of Jio Platforms shares in the IPO is priced at ₹13,428 per lot. Jio Platforms will use ₹27,500 crore from the IPO proceeds for prepayment, in full or in part, of certain outstanding borrowings availed by the company and remaining for general corporate purposes.

Kotak Mahindra Capital, Morgan Stanley India, BOFA Securities India, Axis Capital, BNP Paribas, Citigroup Global Markets, CLSA India, Dam Capital Advisors, Goldman Sachs, HDFC Bank and HSBC Securities & Capital Markets among others are the lead managers of the IPO while Kfin Technologies is the registrar to the issue. For the financial year 2026-27, Jio Platforms reported a 15% increase in post-tax profit to ₹30,053 crore and a 14.5% rise in revenue from operations to ₹1,46,885 crore.