Reliance Jio IPO refers to the proposed initial public offering of Jio Platforms Limited, the digital and technology arm of Reliance Industries Limited. Jio Platforms filed its Draft Red Herring Prospectus with SEBI on June 19, 2026. The proposed IPO comprises a fresh issue of up to 27 crore equity shares of face value ₹10 each and does not include an Offer for Sale by existing shareholders. The issue is proposed to be conducted through the book-building process.
Jio Platforms is the holding company for Reliance’s digital connectivity and technology businesses, with Reliance Jio Infocomm Limited as its material subsidiary. As of March 31, 2026, Reliance Jio Infocomm had 524.4 million customers. The business includes mobile connectivity, fixed broadband, enterprise connectivity, digital services, cloud, entertainment, smart-home solutions and AI-related products.
The IPO has received a major regulatory milestone, with SEBI issuing its observation letter on August 28, 2026. The final price band, IPO opening and closing dates, lot size and listing date had not been announced in the available official documents. Media reports have indicated a potential issue value of around ₹37,700 crore, but this should not be treated as the final issue size until the price band and final offer documents are released.
Table of Contents
Reliance Jio IPO Details Information
The key Reliance Jio IPO details currently available from the DRHP and official disclosures are given below.
| Particulars | Information |
|---|---|
| IPO Name | Reliance Jio IPO / Jio Platforms IPO |
| Company Name | Jio Platforms Limited |
| IPO Type | 100% Book Built Issue |
| IPO Category | Mainboard IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | Yet to be Updated |
| Issue Size | Up to 27,00,00,000 Equity Shares |
| Fresh Issue | Up to 27,00,00,000 Equity Shares |
| Offer for Sale | Nil |
| IPO Open Date | Yet to be Updated |
| IPO Close Date | Yet to be Updated |
| Anchor Investor Bidding | Yet to be Updated |
| Basis of Allotment | Yet to be Updated |
| Refund Initiation | Yet to be Updated |
| Shares Credited to Demat Account | Yet to be Updated |
| Listing Date | Yet to be Updated |
| Listing Exchange | BSE & NSE |
| Lot Size | Yet to be Updated |
| Registrar | KFin Technologies Limited |
| Book Running Lead Managers | 19 BRLMs |
The DRHP states that the proposed IPO consists of up to 270 million equity shares with a face value of ₹10 each. It is entirely a fresh issue, with no Offer for Sale component. The equity shares are proposed to be listed on BSE and NSE.
Reliance Jio IPO Dates
The final bidding schedule has not yet been announced. The DRHP contains placeholders for the Anchor Investor Bidding Date, Bid/Issue Opening Date and Bid/Issue Closing Date.
| IPO Event | Date |
|---|---|
| Anchor Investor Bidding | Yet to be Updated |
| IPO Opening Date | Yet to be Updated |
| IPO Closing Date | Yet to be Updated |
| Basis of Allotment | Yet to be Updated |
| Refund Initiation | Yet to be Updated |
| Shares Credited to Demat Account | Yet to be Updated |
| Listing Date | Yet to be Updated |
SEBI issued its observation letter for the proposed Jio Platforms IPO on August 28, 2026. The company is expected to announce the final IPO schedule after completing the remaining issue-related formalities.
Reliance Jio IPO Reservation
The DRHP provides for the standard allocation framework, along with separate reservation portions for eligible employees and eligible Reliance Industries shareholders. The final number of shares reserved under these special categories is to be specified in the final offer documents.
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not more than 50% of Net Issue |
| Non-Institutional Investors (NII) | Not less than 15% of Net Issue |
| Retail Individual Investors (RII) | Not less than 35% of Net Issue |
| Eligible RIL Shareholders | Yet to be Updated |
| Eligible Employees | Yet to be Updated |
The DRHP also provides for a separate reservation category for eligible shareholders of Reliance Industries Limited. The final size of the shareholder and employee reservation portions will be disclosed in the final offer documents.
Reliance Jio IPO Lot Size
The lot size cannot be calculated until the company announces the final price band and minimum bid quantity.
| Application | Shares | Amount |
|---|---|---|
| Retail Minimum | Yet to be Updated | Yet to be Updated |
| Retail Maximum | Yet to be Updated | Yet to be Updated |
| S-HNI Minimum | Yet to be Updated | Yet to be Updated |
The final lot size will be disclosed in the Red Herring Prospectus after the price band and issue structure are finalised.
About Reliance Jio
Jio Platforms Limited was incorporated on November 15, 2019, in Ahmedabad, Gujarat. It is the digital and technology platform of the Reliance group and operates through its subsidiaries, including Reliance Jio Infocomm Limited. Reliance Industries Limited is the promoter of Jio Platforms.
Jio’s business combines digital connectivity with technology and digital services. Reliance Jio Infocomm operates mobile and fixed broadband connectivity services, while the wider Jio ecosystem includes enterprise connectivity, cloud, entertainment, digital applications, smart-home services and emerging AI-related offerings.
As of March 31, 2026, Jio Platforms and its subsidiaries had 524.4 million customers through Reliance Jio Infocomm. The company reported revenue from operations of ₹1,46,885.3 crore and profit after tax of approximately ₹30,049 crore for FY2026 on the restated consolidated basis.
Business Operations
Jio Platforms operates across telecommunications, digital connectivity and technology services.
- Mobile Connectivity – Reliance Jio provides mobile voice and data connectivity services across India.
- Fixed Broadband – Jio offers home broadband and fixed connectivity services.
- Enterprise Connectivity – The company provides connectivity and managed technology services to enterprises.
- Digital Services – Jio operates a broad ecosystem of digital applications and services.
- Entertainment – Jio’s digital ecosystem includes entertainment and content services.
- Cloud Services – The company provides cloud and digital infrastructure solutions.
- Smart Home – Jio provides connected-home and smart-home solutions.
- Artificial Intelligence – Jio is developing AI-based products, platforms and services.
- 5G Services – Jio has expanded its 5G network and customer base across India.
- Digital Ecosystem – Jio integrates connectivity, applications and digital services through its technology platform.
As of March 31, 2026, Jio’s total customer base stood at 524.4 million, while data traffic reached 241.4 billion GB. Monthly data consumption per customer for the exit quarter was 42.3 GB.
Industry Overview
India’s telecommunications and digital services industry has undergone substantial transformation through the expansion of affordable mobile data, 4G and 5G networks, smartphones, cloud computing and digital applications. Increasing internet usage has created opportunities for telecom companies to expand beyond connectivity into enterprise, cloud, entertainment and digital services.
The growth of 5G, fixed broadband, artificial intelligence, cloud computing and digital enterprise services is creating additional opportunities for integrated technology platforms. Jio operates across several of these segments through its connectivity network and broader digital ecosystem.
Jio’s material subsidiary, Reliance Jio Infocomm, had 524.4 million customers as of March 31, 2026, giving the company a large customer base for its connectivity and digital services.
Business Strategy
Jio Platforms’ strategy is based on combining large-scale digital connectivity with an integrated technology and digital-services ecosystem. The company has continued to invest in 5G, fixed broadband, cloud, enterprise services, digital applications and emerging technologies.
The company is also expanding its digital ecosystem through AI, cloud computing, enterprise connectivity and other technology solutions. Jio’s scale of network infrastructure and customer base provides a platform for cross-selling additional digital and technology services.
The company reported 36.2 million net customer additions in FY2026, while data traffic increased to 241.4 billion GB from 184.5 billion GB in FY2025.
Reliance Jio IPO Financial Information
Jio Platforms has reported growth in revenue and profit across the three financial years covered in its restated consolidated financial information. Revenue from operations increased from ₹1,09,558.1 crore in FY2024 to ₹1,46,885.3 crore in FY2026, while PAT increased from ₹21,423.2 crore to ₹30,049.1 crore.
Jio Platforms Financial Summary
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue from Operations | ₹1,09,558.1 Crore | ₹1,28,218.4 Crore | ₹1,46,885.3 Crore |
| Total Income | ₹1,10,175.4 Crore | ₹1,29,333.0 Crore | ₹1,49,759.1 Crore |
| EBITDA | ₹54,958.7 Crore | ₹64,170.0 Crore | ₹76,255.4 Crore |
| Profit After Tax (PAT) | ₹21,423.2 Crore | ₹26,109.0 Crore | ₹30,049.1 Crore |
| Total Assets | ₹5,39,580.4 Crore | ₹5,81,233.8 Crore | ₹6,15,594.0 Crore |
| Net Worth | ₹2,77,866.1 Crore | ₹3,04,022.4 Crore | ₹3,34,013.4 Crore |
| Total Borrowings | ₹54,348.9 Crore | ₹73,060.3 Crore | ₹70,781.0 Crore |
The FY2026 consolidated financial statements reported total assets of ₹6,15,594 crore and total equity of ₹3,37,076 crore. The DRHP’s defined net worth was ₹3,34,013.4 crore. Total borrowings were ₹70,781 crore.
Jio Platforms’ revenue from operations increased by approximately 15.8% between FY2024 and FY2026, while PAT increased over the same period. EBITDA rose from ₹54,958.7 crore in FY2024 to ₹76,255.4 crore in FY2026.
Reliance Jio IPO Key Performance Indicators (KPIs)
Jio Platforms’ key operating and financial indicators provide information about customer scale, data usage, profitability and capital efficiency.
| KPI | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Return on Net Worth (RoNW) | 8.02% | 8.97% | 9.42% |
| Return on Capital Employed (ROCE) | 12.83% | 12.50% | 10.76% |
| PAT Margin | 19.55% | 20.36% | 20.46% |
| EBITDA Margin | 50.16% | 50.05% | 51.91% |
| Debt-to-Equity Ratio | |||
| Fixed Asset Turnover Ratio | |||
| EPS | ₹23.96 | ₹29.21 | ₹33.63 |
| Net Asset Value (NAV) Per Share |
The company reported an EBITDA margin of 51.91% and PAT margin of 20.46% in FY2026. Earnings per equity share increased from ₹23.96 in FY2024 to ₹33.63 in FY2026. Return on average net worth was 9.42% in FY2026.
Operational KPIs also showed growth. The total customer base increased to 524.4 million in FY2026, while average revenue per user for the exit quarter reached ₹214 per month. Data traffic increased to 241.4 billion GB.
Objects of the Reliance Jio IPO
The DRHP states that Jio Platforms proposes to use the net proceeds from the IPO primarily for repayment or prepayment of certain borrowings of its material subsidiary, Reliance Jio Infocomm Limited, along with general corporate purposes.
- Prepayment, in full or in part, of certain outstanding borrowings availed by the material subsidiary, Reliance Jio Infocomm Limited.
- General corporate purposes.
The DRHP does not provide a final rupee amount for the issue because the price band had not been determined at the DRHP stage. Media reports have subsequently indicated that up to ₹27,500 crore may be used for repayment or prepayment of RJIL borrowings, while the balance would be available for general corporate purposes, subject to the final issue structure.
Reliance Jio IPO Listing Performance
Reliance Jio / Jio Platforms is currently unlisted. Therefore, no historical IPO listing price or listing gain is available.
| Particular | Value |
|---|---|
| Listing Exchange | BSE & NSE |
| Listing Date | Yet to be Updated |
| Issue Price | Yet to be Updated |
| Listing Price | Yet to be Updated |
| Listing Gain | Yet to be Updated |
| Listing Gain (%) | Yet to be Updated |
The DRHP proposes listing the equity shares on BSE and NSE. The final listing date will be announced after the IPO schedule is finalised.
Reliance Jio IPO Subscription Status
The Reliance Jio IPO is not currently open for public subscription. Therefore, live subscription figures are not available.
Reliance Jio IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | Yet to be Updated |
| Non-Institutional Investors (NII) | Yet to be Updated |
| Retail Individual Investors (RII) | Yet to be Updated |
| Eligible RIL Shareholders | Yet to be Updated |
| Employee Category | Yet to be Updated |
| Total Subscription | Yet to be Updated |
Subscription figures will be updated once the public bidding period begins.
Reliance Jio IPO Review
Jio Platforms operates a large-scale digital connectivity and technology ecosystem through Reliance Jio Infocomm and its other businesses. Its material subsidiary had 524.4 million customers as of March 31, 2026, while the company has expanded into fixed broadband, enterprise connectivity, cloud, entertainment, smart-home services and AI-related technologies.
The financial performance disclosed in the DRHP shows revenue from operations of ₹1,46,885.3 crore and PAT of approximately ₹30,049.1 crore for FY2026. EBITDA was ₹76,255.4 crore and net worth was ₹3,34,013.4 crore.
The IPO is entirely a fresh issue of up to 27 crore shares. There is no OFS component, so the proposed issue is structured as a capital-raising exercise by Jio Platforms rather than a sale of shares by existing shareholders. The primary stated use of proceeds is repayment or prepayment of borrowings of Reliance Jio Infocomm, with the balance proposed for general corporate purposes.
Reliance Jio IPO Strengths
- Large customer base of 524.4 million as of March 31, 2026.
- Backed by Reliance Industries Limited.
- Strong growth in revenue and PAT over FY2024-FY2026.
- Large-scale 5G and digital connectivity infrastructure.
- Expanding fixed broadband business.
- Presence across enterprise connectivity and digital services.
- Exposure to cloud computing and AI-related technologies.
- Strong data consumption growth.
- High EBITDA margin reported in FY2026.
- Significant technology and digital ecosystem.
- Global strategic investors include Meta and Google.
- Strong operating cash generation.
- Proposed IPO proceeds are primarily intended for debt repayment, which can reduce borrowings.
Reliance Jio IPO Risk Factors
- The telecommunications industry requires continuous investment in spectrum and network infrastructure.
- Telecom operations depend on licences and regulatory approvals.
- Changes in spectrum pricing, licensing fees and government regulations can affect costs.
- The company operates in a highly competitive telecom market.
- Customer churn can affect subscriber growth and revenue.
- Significant capital expenditure is required for network expansion and technology upgrades.
- The company has substantial borrowings.
- Reliance Jio Infocomm has significant spectrum-related and other financial obligations.
- The business depends on technology infrastructure and network availability.
- Cybersecurity and data-privacy incidents could affect operations and reputation.
- Rapid technological changes require continued investment.
- Competition from other telecom and digital-service providers may affect pricing and customer acquisition.
- Some tax and regulatory matters disclosed in the offer documents may result in financial exposure.
Reliance Jio IPO Promoters
Reliance Industries Limited is the promoter of Jio Platforms Limited. As of the DRHP date, Reliance Industries held 5,937,841,645 equity shares, representing 66.43% of Jio Platforms’ pre-issue paid-up equity share capital.
Reliance Jio IPO Promoters Details
| Promoter | Pre-Issue Holding |
|---|---|
| Reliance Industries Limited | 66.43% |
The post-issue promoter holding will be diluted after the fresh issue, with the final percentage depending on the number of shares issued and the final capital structure.
Reliance Jio IPO Management Team
Jio Platforms has a board comprising representatives of the Reliance group along with independent directors. Akash Mukesh Ambani is the Managing Director, while Mukesh Dhirubhai Ambani is the Chairman and Non-Executive Director.
| Name | Designation |
|---|---|
| Mukesh Dhirubhai Ambani | Chairman and Non-Executive Director |
| Manoj Harjivandas Modi | Non-Executive Director |
| Akash Mukesh Ambani | Managing Director |
| Isha Mukesh Ambani | Non-Executive Director |
| Anant Mukesh Ambani | Non-Executive Director |
| Raminder Singh Gujral | Independent Director |
| Dr. Shumeet Banerji | Independent Director |
| Haigreve Khaitan | Independent Director |
| Dinesh Hasmukhrai Kanabar | Independent Director |
| Zia Jaydev Mody | Independent Director |
| Pankaj Mohan Pawar | Chief Executive Officer |
| Saurabh Sancheti | Chief Financial Officer |
| Mathew Oommen | Group President |
| Savithri Parekh | Company Secretary |
| Venkataraman Ramachandran | Compliance Officer |
The management and key managerial personnel details are based on the Jio Platforms DRHP.
Reliance Jio IPO Registrar Details
KFin Technologies Limited has been appointed as the Registrar to the Reliance Jio IPO. The DRHP provides the registrar’s contact details and IPO-specific email address.
| Particular | Details |
|---|---|
| Registrar Name | KFin Technologies Limited |
| Contact Person | M. Murali Krishna |
| Phone | +91 40 6716 2222 / 1800 309 4001 |
| Email ID | [email protected] |
| Website | Yet to be Updated |
| IPO Allotment Status | Yet to be Updated |
The registrar will handle the IPO application processing and allotment-related activities after the issue opens and closes.
Reliance Jio IPO Lead Manager Details
Jio Platforms has appointed 19 Book Running Lead Managers for the proposed IPO. The consortium includes major domestic and international investment banks.
| No. | Lead Manager |
|---|---|
| 1 | Kotak Mahindra Capital Company Limited |
| 2 | Morgan Stanley India Company Private Limited |
| 3 | BofA Securities India Limited |
| 4 | Axis Capital Limited |
| 5 | BNP Paribas |
| 6 | Citigroup Global Markets India Private Limited |
| 7 | CLSA India Private Limited |
| 8 | DAM Capital Advisors Limited |
| 9 | Goldman Sachs (India) Securities Private Limited |
| 10 | HDFC Bank Limited |
| 11 | HSBC Securities and Capital Markets (India) Private Limited |
| 12 | ICICI Securities Limited |
| 13 | IIFL Capital Services Limited |
| 14 | Jefferies India Private Limited |
| 15 | JM Financial Limited |
| 16 | J.P. Morgan India Private Limited |
| 17 | SBI Capital Markets Limited |
| 18 | UBS Securities India Private Limited |
| 19 | 360 ONE WAM Limited |
Kotak Mahindra Capital Company Limited is the lead coordinator for the issue, while the full syndicate comprises 19 BRLMs.
Reliance Jio Contact Details
| Particular | Details |
|---|---|
| Company Name | Jio Platforms Limited |
| Registered Office | Office-101, Saffron, Nr. Centre Point, Panchwati 5 Rasta, Ambawadi, Ahmedabad 380 006, Gujarat, India |
| Corporate Office | TC-22, 5th Floor, A Wing, Reliance Corporate Park, Thane Belapur Road, Ghansoli, Navi Mumbai 400 701, Maharashtra, India |
| Phone | +91 22 7967 0000 |
| Email ID | [email protected] |
| Website | https://www.jio.com/ |
The DRHP identifies Savithri Parekh as Company Secretary and Venkataraman Ramachandran as Compliance Officer. The official Jio IPO investor-relations page also provides the IPO-related documents and investor contact information.
Prospectus / Documents
The official Jio Platforms IPO documents currently include the DRHP and Draft Abridged Prospectus.
| Document | Status |
|---|---|
| DRHP | Filed with SEBI on June 19, 2026 |
| Draft Abridged Prospectus | Available |
| RHP | Yet to be Updated |
| Prospectus | Yet to be Updated |
| Industry Report | Available |
| Annual Report | Available |
The official Jio investor-relations IPO page provides the Draft Red Herring Prospectus, Draft Abridged Prospectus, industry report and other issue-related documents.
How to Check Reliance Jio IPO Allotment Status
Investors can check the Reliance Jio IPO allotment status after the IPO closes and the basis of allotment is finalised.
Through Registrar
- Visit the official IPO allotment website of KFin Technologies.
- Select Jio Platforms IPO from the IPO list.
- Select PAN Number, Application Number or DP/Client ID.
- Enter the required details.
- Complete the verification process.
- Click Submit to view the allotment status.
Through BSE
- Visit the official BSE IPO allotment page.
- Select Jio Platforms IPO from the IPO list.
- Enter your PAN Number or Application Number.
- Complete the required verification.
- Click Search to view the allotment status.
The allotment status will become available only after the IPO subscription, basis of allotment and share-credit process are completed.
Reliance Jio IPO Conclusion
Reliance Jio IPO is the proposed public issue of Jio Platforms Limited, the digital and technology platform of Reliance Industries. The company has filed its DRHP with SEBI for a fresh issue of up to 27 crore equity shares with no OFS component. The proposed shares are intended to be listed on BSE and NSE.
Jio Platforms reported FY2026 revenue from operations of ₹1,46,885.3 crore and PAT of approximately ₹30,049.1 crore. Its customer base reached 524.4 million and its FY2026 data traffic reached 241.4 billion GB. The company also reported net worth of approximately ₹3,340.1 billion and total borrowings of ₹707.8 billion.
The primary stated object of the IPO is repayment or prepayment of certain borrowings of Reliance Jio Infocomm, with the remaining proceeds intended for general corporate purposes. SEBI issued its observation letter on August 28, 2026, while the final price band, lot size and IPO schedule remain to be announced.
Reliance Jio IPO FAQs
What is Reliance Jio IPO?
Reliance Jio IPO refers to the proposed initial public offering of Jio Platforms Limited, the digital and technology arm of Reliance Industries Limited.
What is the price band of Reliance Jio IPO?
The final price band of the Reliance Jio IPO has not yet been announced.
What is the issue size of Reliance Jio IPO?
The IPO comprises a fresh issue of up to 27 crore equity shares of face value ₹10 each. The final rupee issue size will depend on the issue price determined through the book-building process.
Is there an Offer for Sale in Reliance Jio IPO?
No. The DRHP proposes an entirely fresh issue of up to 27 crore equity shares and does not include an Offer for Sale component.
When will the Reliance Jio IPO open?
The Reliance Jio IPO opening date has not yet been announced.
When will the Reliance Jio IPO close?
The closing date has not yet been announced.
What is the lot size of Reliance Jio IPO?
The lot size has not yet been announced. It will be disclosed along with the final price band and bidding details.
Who is the registrar of Reliance Jio IPO?
KFin Technologies Limited is the registrar to the Reliance Jio IPO.
Who is the promoter of Jio Platforms?
Reliance Industries Limited is the promoter of Jio Platforms. It held 66.43% of the company’s pre-issue paid-up equity share capital as disclosed in the DRHP.
What are the objects of the Reliance Jio IPO?
The main object is prepayment, in full or in part, of certain outstanding borrowings of Reliance Jio Infocomm Limited, the material subsidiary of Jio Platforms. The remaining proceeds are proposed for general corporate purposes.
On which exchanges will Jio Platforms shares be listed?
The DRHP proposes listing the equity shares on BSE Limited and the National Stock Exchange of India Limited.
What was Jio Platforms’ revenue in FY2026?
Jio Platforms reported revenue from operations of approximately ₹1,46,885.3 crore in FY2026 on the restated consolidated basis.
What was Jio Platforms’ PAT in FY2026?
Jio Platforms reported profit after tax of approximately ₹30,049.1 crore in FY2026 on the restated consolidated basis.
