Athira Sethu
Kochi, 4 September 2026
The Jio Platforms Ltd, the digital arm of Reliance Industries, has received green signal from India’s securities regulator, the Securities and Exchange Board of India (Sebi), for conducting its IPO. The IPO could fetch around USD 3.8 billion, which would make it the largest IPO in the Indian stock market.
The Sebi approved the proposal on 28th August 2026. Jio Platforms had filed the IPO application with the Sebi in June.
As per the plans of the company, Jio Platforms might be able to sell up to 27 crore new shares. These shares will constitute 2.9% of the company post-IPO. The company will be worth around USD 137 billion post-IPO.
An amount of around Rs 37,700 crore (USD 3.8 billion), if managed to be raised by Jio Platforms, will make the IPO the biggest ever in the Indian IPO market. The record will break that set by Hyundai Motor India in 2024, when it raised around USD 3.3 billion. The IPO of National Stock Exchange is also expected to fall short.
A significant portion of the amount received from the IPO will be utilized to decrease debt levels. The amount worth Rs 27,500 crore will be utilized to repay the loan amounts or debts of Reliance Jio Infocomm, which is the primary subsidiary of Jio Platforms. The balance amount of money will be utilized for general business purposes.
Jio Platforms includes some of the most prominent digital units of Reliance; one such example is the telecommunications unit of Reliance Jio Infocomm. It has 53.3 crore subscribers as of June 2026. It has become the second largest mobile operator globally, only after China Mobile.
Further, Jio has diversified into several other segments including cloud computing, artificial intelligence, and business network services.
Several major international organizations have invested in the firm. In 2020, Meta invested an amount worth Rs 43,574 crore, thereby acquiring a 9.99% shareholding in the company. Similarly, Google invested Rs 33,737 crore to acquire a 7.73% shareholding in Jio Platforms.
Currently, Reliance holds 66.4% stake in Jio Platforms. Together, Meta and Google have 17.7% stake in Jio Platforms.
This IPO will be a very significant milestone for the Reliance Group. This will be the first IPO for the group since 2008 and the first-ever IPO for a consumer-oriented business in the group.
Jio Platforms is headed by Mukesh Ambani, whereas the MD of the company is Akash Ambani, the elder son of Mukesh.
