Jio Platforms Likely To List By October End, Enterprise Valuation Seen Above Rs 12 Lakh Crore

New Delhi: Jio Platforms is likely to list by October end at an enterprise valuation of USD 143–146 billion, or above Rs 12 lakh crore, sources tracking the development told PTI.

The digital services company could raise around USD 3.8 billion through its initial public offering. Jio Platforms did not respond to an email seeking comment.

IPO timeline takes shape

The company has completed overseas roadshows and is expected to file its final IPO papers with SEBI in the week starting October 12, according to banking and other sources.

Akash Ambani and Isha Ambani led investor meetings in the US, UK, Dubai, Hong Kong and Singapore. An Indian roadshow is expected after the red herring prospectus is filed.

Sources said the anchor investor round could begin before Dussehra, with the public offer opening after the festival but before October 23.

SEBI issued its final observations on August 28, following the filing of draft papers in June.

Fresh shares on offer

The draft prospectus outlines an issue of up to 27 crore fresh equity shares, representing about 2.9 percent of the equity base after the issue.

Reliance Industries owns around 66.4 per cent of Jio Platforms, while Meta and Google together hold about 17.7 percent.

The offering would mark the Reliance group's first IPO since 2008 and the first public offer of a consumer business within the conglomerate.

Digital business expands

Jio Platforms houses Reliance's digital operations, including telecom, cloud, artificial intelligence and enterprise network services.

Its telecom arm serves 50.6 crore mobile customers. Jio had 26.85 crore 5G customers as of June 2026 and about 1.5 crore fixed wireless access subscribers.

For FY26, profit after tax increased 15 per cent to Rs 30,053 crore, while annual revenue rose 14.5 per cent to Rs 1,46,885 crore.

Nuvama Research expects Reliance Jio's profit after tax to grow at a compounded annual rate of 18 per cent between FY26 and FY30.

Published on: Sunday, October 04, 2026, 02:28 PM IST