Jio Platforms will launch India’s largest IPO by issue size on Wednesday, 21 October 2026, raising ₹30,213 crore through a fresh issue with no offer for sale. The company has earmarked around 12% of the net issue, equivalent to ₹2,500 crore, exclusively for eligible shareholders of Reliance Industries Limited (RIL). Investors who held even a single share of RIL on or before 14 October 2026 are entitled to apply under this shareholder quota, which is limited to individual investors and Hindu Undivided Families (HUFs).

The IPO will be priced between ₹1,065 and ₹1,119 per share, with a lot size of 12 shares amounting to ₹13,428. The 27 crore shares to be issued are expected to value the company at an upper‑end market capitalisation of ₹10.30 lakh crore. The offering will be oversubscribed, with a maximum application amount of ₹2 lakh per investor under the shareholder category, and investors may submit two separate applications under the same PAN without risk of rejection.

Shareholder quota allocation is part of a broader reservation scheme: 35% of the net issue, or ₹10,574.5 crore, is reserved for Retail Individual Investors; Qualified Institutional Buyers are capped at 50% of the net issue, or ₹15,106.5 crore; and Non‑Institutional Investors receive 15%, or ₹4,531.9 crore. The RIL shareholder quota, at 12%, is the largest single category reserved for a parent‑company’s shareholders. This structure aims to reward long‑term investors while maintaining a balanced distribution across categories.

To apply under the shareholder quota, investors must select “RIL Shareholder” as the category in their broker app or bank’s ASBA facility, enter the bid amount of ₹13,428 per lot, and approve the IPO mandate to block the required funds. The application window runs from 21 to 23 October 2026, and the final allotment will be proportionate if the IPO is oversubscribed across all categories. While the quota increases the odds of allotment, it does not guarantee a share allocation.

Jio Platforms, a technology‑driven subsidiary of RIL, serves 53.33 crore customers through its telecom arm Reliance Jio Infocomm Limited as of 30 June 2026. The company’s ARPU rose from ₹181.7 in FY24 to ₹215.6 in Q1FY27, and average monthly data consumption per user climbed from 28.7 GB to 43.7 GB in the same period. Its network infrastructure spans 360,537 towers, 57 lakh deployed cells, and over 10 lakh route kilometres of fibre, positioning it as the largest private digital connectivity provider in India.

Proceeds from the IPO will be directed primarily toward debt repayment, with ₹27,500 crore earmarked to settle outstanding borrowings of its material subsidiary RJIL in FY27. The remaining net proceeds will fund general corporate purposes and issue expenses, enabling Jio Platforms to become virtually debt‑free. This capital structure is expected to lower interest expenses, strengthen free cash flow, and support the next phase of growth for the company.