Jio Platforms, the digital services arm of Reliance Industries, has filed its red herring prospectus (RHP) with the Registrar of Companies (RoC), setting the stage for its initial public offering (IPO) to open for subscription on Oct. 21. The IPO will close on Oct. 23, while bidding for anchor investors is scheduled for October 19, according to the company's exchange filing.
The public issue will comprise a fresh issue of up to 27 crore equity shares. Jio Platforms has also reserved shares worth up to Rs 2,500 crore for eligible shareholders of Reliance Industries, giving the parent company's investors a dedicated allocation in the much-anticipated listing.
In addition, the IPO will include a reservation of shares worth up to Rs 500 crore for eligible employees.
The shareholder reservation is expected to be a key feature of the issue, allowing qualifying Reliance Industries shareholders to participate in the offering through a dedicated portion, subject to the eligibility criteria and allocation terms outlined in the offer documents.
The IPO schedule outlined in the filing sets Oct. 19 as the anchor investor bidding date, followed by the opening of the public issue on Oct. 21. Subscription will remain open until Oct. 23.
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The filing marks an important step in the listing process for Jio Platforms, which operates across telecommunications and digital services through its businesses and platforms.
The Securities and Exchange Board of India (Sebi) issued its final observations on Aug. 28. Jio Platforms had filed its draft IPO papers in June. According to its draft prospectus, the company plans to issue up to 27 crore fresh equity shares, equivalent to about 2.9% 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% market share in fixed-line connections, serving 157.9 million customers, and a 39.29% share in mobile connections, with 506 million customers.
JPL 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. Jio claims that its 5G network's carrying capacity is close to 60 per cent of India's wireless data traffic, one of the largest in the world.
For fiscal 2026, Jio Platforms posted a 15% rise in profit after tax to Rs 30,053 crore and a 14.5% increase in annual revenue to Rs 1,46,885 crore.
The IPO would be the first public offering from the Reliance Group since 2008 and the first IPO of a consumer-focused business within the conglomerate.
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