Jio’s Rs 30,213 Crore IPO: How It Differs From LIC, Hyundai and NSE

Jio Platforms Ltd, the digital and telecom arm of Reliance Industries, will launch its initial public offering (IPO) on October 21, 2026. The company has set a price band of ₹1,065 to ₹1,119 per share. At the upper end of the price band, the IPO could raise approximately ₹30,213 crore. This offering could become India’s largest-ever IPO. The subscription window will remain open until October 23.

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Jio IPO Differs From Hyundai, LIC and NSE

Jio Platforms will issue up to 27 crore fresh equity shares with a face value of ₹10 each. Unlike Hyundai Motor India, LIC and NSE, the company will not offer existing shares for sale. Hyundai’s ₹27,858.75 crore IPO involved a complete offer for sale by its promoter. Similarly, the government sold its shares in LIC, while existing investors offered their holdings in NSE. Therefore, Jio’s IPO stands out because the company itself will receive the proceeds.

The IPO is expected to list on October 28, 2026. Investors can bid for a minimum of 12 shares and purchase additional shares in multiples of 12. At the upper price band, retail investors will need at least ₹13,428 to apply for one lot. The company has also reserved portions worth up to ₹500 crore for eligible employees and ₹2,500 crore for eligible Reliance shareholders. Eligible employees will receive a discount of ₹54 per share.

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How Jio Platforms Plans to Use the IPO Funds

Jio Platforms plans to use the proceeds to repay certain debts of its subsidiary, Reliance Jio Infocomm Ltd, and meet general corporate expenses. Since the company is issuing fresh shares, the funds will go directly to Jio Platforms rather than existing shareholders. However, the draft prospectus highlights the company’s reliance on its promoter group. Reliance Retail serves as the sole distributor of Jio’s prepaid services. Prepaid revenue contributed 77.08% of Jio Platforms’ consolidated operating revenue in FY26.

Reliance Industries held a 66.43% stake in Jio Platforms before the IPO. Global technology companies Meta and Google together owned approximately 17.7% of the company. The offering has appointed 19 book-running lead managers, including Kotak Mahindra Capital, Morgan Stanley, Goldman Sachs, JPMorgan and BofA Securities. KFin Technologies will serve as the registrar for the issue. Investors should review the IPO documents, financial details and associated risks before making an investment decision.

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