Reliance Industries’ digital providers subsidiary Jio Platforms has set a value band of Rs 1,065 to Rs 1,119 per share for its upcoming IPO, by which it may elevate as much as Rs 30,213 crore on the higher finish of the vary.

If totally subscribed at that value, the providing would surpass Hyundai Motor India’s Rs 27,858.75-crore IPO in 2024 to grow to be the nation’s largest public situation. It will additionally worth Jio Platforms at roughly Rs 10.3 lakh crore, doubtlessly making it one in all India’s most respected listed corporations.

The IPO will open for public subscription on October 21 and shut on October 23, whereas bidding for anchor traders is scheduled for October 19.

In response to an trade submitting by Reliance Industries (RIL), Jio Platforms filed its Crimson Herring Prospectus (RHP), dated October 14, with the Registrar of Firms in Ahmedabad, Gujarat.

The submitting follows the corporate’s submission of its DRHP on June 19 and the receipt of an statement letter from SEBI on August 28.

IPO construction and investor reservations

The providing will consist fully of a recent situation of as much as 27 crore fairness shares with a face worth of Rs 10 every. There will likely be no offer-for-sale (OFS) element, that means current shareholders is not going to promote their shares by the IPO.

Jio Platforms has reserved shares price as much as Rs 500 crore for eligible workers, who will obtain a reduction of Rs 54 per share when bidding below the worker reservation portion.

An extra Rs 2,500 crore price of shares has been reserved for eligible public shareholders of RIL.

The shareholder reservation is obtainable to people and Hindu Undivided Households (HUFs) holding RIL fairness shares as of October 14, topic to the eligibility situations specified within the RHP and relevant rules.

Beneath the IPO allocation construction, no more than 50% of the Web Problem will likely be accessible to certified institutional patrons, whereas not less than 35% and 15% will likely be accessible to retail particular person traders and non-institutional investors, respectively.

Traders can bid for no less than 12 shares and in multiples of 12 thereafter. On the higher finish of the value band, one lot would value Rs 13,428 earlier than any relevant worker low cost.

The shares are proposed to be listed on the BSE and the NSE, with itemizing anticipated on October 28.

Earlier than the IPO, RIL holds a 66.43% stake in Jio Platforms, whereas Meta, by its affiliate Jaadhu Holdings, owns 9.98%, and Google Worldwide holds 7.73%.

How Jio plans to make use of the IPO proceeds

Jio Platforms intends to make use of as much as Rs 27,500 crore from the IPO proceeds to repay or prepay, in full or partially, sure excellent borrowings of its materials subsidiary, Reliance Jio Infocomm (RJIL).

The corporate expects the proposed compensation to scale back excellent borrowings and related financing prices, enhance leverage and strengthen its monetary place.

The steadiness of the online proceeds, after accounting for IPO-related bills and the proposed debt compensation, will likely be used for common company functions, topic to relevant regulatory limits.

The providing’s acknowledged goals are debt compensation and common company functions. The IPO paperwork don’t individually earmark proceeds for investments in 5G infrastructure, AI or different digital providers.

Individually, Jio Platforms has outlined plans to broaden its cell and stuck broadband companies, develop enterprise digital providers and AI capabilities, and discover alternatives to deploy its know-how in worldwide markets.

Jio’s subscriber development and monetary efficiency

Jio Platforms has expanded past cell telecommunications into fastened broadband, enterprise connectivity, cloud computing, digital entertainment and AI.

Its providers embrace JioFiber, JioAirFiber, JioSaavn, JioTV+, JioAICloud and enterprise digital options.

The corporate’s telecom subsidiary, RJIL, had 533.3 million clients on the finish of June 2026, in contrast with 524.4 million on the finish of March and 488.2 million a yr earlier.

Its fastened broadband buyer base reached 28.6 million on the finish of June, together with roughly 14 million houses linked by JioAirFiber, its 5G-based fastened wi-fi broadband service.

In response to the corporate’s monetary disclosures, consolidated income from operations elevated to Rs 1,46,885 crore within the monetary yr ended March 2026 (FY26), in contrast with Rs 1,28,218 crore in FY25 and Rs 1,09,558 crore in FY24.

It is PAT rose to Rs 30,049 crore in FY26 from Rs 26,109 crore within the earlier monetary yr, whereas earnings earlier than curiosity, taxes, depreciation and amortisation (EBITDA) reached Rs 76,255 crore, representing a margin of 51.91%.

For the quarter ended June 30, 2026, Jio Platforms reported consolidated income from operations of Rs 39,173 crore, up from Rs 35,032 crore within the corresponding quarter a yr earlier.

PAT elevated to Rs 7,764 crore from Rs 7,110 crore, whereas EBITDA rose to Rs 20,865 crore from Rs 18,135 crore.

The proposed itemizing marks a major growth for Reliance Industries because it prepares to deliver its telecommunications and digital providers enterprise to India’s public fairness markets.

Whereas the IPO may set a brand new report for the Indian main market, the ultimate quantity raised and the corporate’s implied valuation will depend upon the problem value, the variety of shares allotted and investor demand.