Preparations are complete for what could become the largest initial public offering in the history of Indian equity markets. Digital services major Jio Platforms Limited is opening its public subscription window next week on October 21. According to details in the red herring prospectus filed on Wednesday, bidding will conclude on October 23, while anchor investors will be allowed to submit their bids earlier on October 19. The telecom and technology giant plans to list its equity shares on domestic exchanges before the end of this month.
Dedicated Allocations for Staff and Reliance Investors
The company has structured preferential quotas for both its workforce and equity holders of its parent conglomerate. Shares worth up to 500 crore rupees have been set aside exclusively for eligible employees. Simultaneously, a reservation of up to 2500 crore rupees is designated for qualifying shareholders of Reliance Industries Limited. Retail equity holders and Hindu Undivided Families (HUFs) on the parent company's share register are eligible to bid under this category, provided they met the eligibility conditions by October 14.
Enterprise Valuation Pegged Past 12 Lakh Crore Rupees
Buoyed by steady international investor backing, Jio Platforms is projected to command an opening enterprise value between 143 billion and 146 billion dollars, equating to more than 12 lakh crore rupees. With an estimated fundraising target near 3.8 billion dollars, this issue is positioned to surpass all previous records for public market offerings in India.
Regulatory Green Light and Issue Structure
Capital markets regulator SEBI cleared the issue by issuing its final observations on August 28 this year, following the company's initial draft filing in June. Under the proposed framework, Jio Platforms intends to issue up to 27 crore fresh equity shares. This issuance will represent roughly 2.9 percent of the company's post-issue equity base.
Strong Earnings Trajectory Underpins Listing
Operational numbers highlight rapid financial growth leading into the float. During financial year 2025-26, Jio Platforms generated a net profit of 30,053 crore rupees, marking an annual expansion of 15 percent. Operating revenue over the same twelve-month stretch climbed 14.5 percent to reach 1,46,885 crore rupees. Looking ahead, market analysts at Nuvama Research project net profit to compound at an approximate annual pace of 18 percent between financial years 2025-26 and 2029-30.
