Jio Platforms Steps Up IPO Preparations, Investor Outreach To Start Later This Week

Mumbai: Jio Platforms is stepping up preparations for its much-awaited initial public offering (IPO), with investor outreach expected to begin later this week following the recent approval from markets regulator Sebi, according to sources.

The Reliance Industries digital arm's proposed $3.8 billion IPO is widely expected to become India's biggest public offering.

Sebi issued its final observations on August 28 after Jio Platforms filed its draft IPO papers in June.

Global Investor Meetings Planned

Jio Platforms is expected to meet potential investors across major financial centres, including the US, UK, Hong Kong and Singapore, as it builds interest ahead of the proposed listing.

According to its draft prospectus, the Jio Platforms IPO could include up to 27 crore fresh equity shares, representing about 2.9% of its post-issue equity base.

The offering could value the company at around $137 billion, according to people familiar with the matter.

IPO Funds to Cut Debt

A major portion of the IPO proceeds will be used to repay or prepay around ₹27,500 crore of borrowings at Reliance Jio Infocomm, Jio Platforms' key subsidiary. The remaining funds are intended for general corporate purposes.

Jio Platforms reported a 15% rise in FY26 profit after tax to ₹30,053 crore, while annual revenue increased 14.5% to ₹1,46,885 crore.

Jio's Massive Telecom Footprint

Reliance Jio Infocomm has 506 million mobile customers, giving it a 39.29% market share. It also serves 157.9 million fixed-line connections.

Jio Platforms had 26.85 crore 5G customers as of June 2026 and operates the largest standalone 5G network outside China.

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

The listing would mark the Reliance group's first IPO since 2008 and its first public offering of a consumer-focused business.