Public bidding is scheduled to open October 21 and close October 23. At the top of the band, the fresh issue could raise ₹30,213 crore, which would make it India's largest IPO by proceeds, The Indian Express reported. The final amount depends on pricing and demand.
Where the money would go
The prospectus allocates ₹27,500 crore of the proceeds to repay debt, with the remainder available for general corporate purposes, subject to a 25% cap, according to The Indian Express. The offer also reserves up to ₹500 crore in shares for eligible employees and up to ₹2,500 crore for eligible Reliance Industries shareholders.
The issue is entirely new equity rather than an offer for sale. That means the money raised goes to Jio Platforms, while existing investors including Reliance Industries, Meta and Google are not selling shares in the IPO.
The scale behind the listing
At an event in Mumbai, Reliance Jio Infocomm chairman Akash Ambani said about 53 crore Indians use Jio, the company has generated more than ₹76,000 crore in EBITDA over 10 years, and its network carries more than 60% of India's data traffic. Those are company claims relayed in an ANI video post.
The Indian Express reported that Jio had more than 524 million subscribers as of March 2026, including 268 million 5G users. Jio's official announcement directed prospective bidders to the October 14 prospectus for risk factors and more details.
