Jio IPO: 27 Crore Shares Fresh Issue Filed with SEBI

Jio Platforms Limited has successfully navigated a regulatory checkpoint for its planned Initial Public Offering (IPO), filing its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on June 19, 2026. Following this submission, the regulator issued an observation letter on August 28, 2026, paving the way for further steps.

The proposed offering constitutes a 100% book-built fresh issue, comprising up to 27 crore equity shares, each with a face value of ₹10. This constitutes approximately 2.9% of the company's post-issue paid-up equity capital. Reliance Industries Limited, the promoter, held a majority stake of 66.43% as of March 31, 2026.

The IPO proceeds are earmarked to strengthen the balance sheet of Reliance Jio Infocomm Limited (RJIL), a key subsidiary. The DRHP indicates that net proceeds will primarily be utilized for the prepayment of outstanding borrowings of RJIL, estimated at around ₹27,500 crore. Any remaining funds will be allocated for general corporate purposes.

Investor allocation for the IPO is structured with a reservation of not more than 50% for Qualified Institutional Buyers (QIBs). Retail individual investors will have at least 35% of the net issue, while non-institutional investors (NIIs) will have a minimum of 15%. Additional reservation portions are planned for eligible employees and Reliance Industries shareholders.

While market estimates have pegged the Jio Platforms IPO at approximately ₹37,700 crore ($3.8 billion), the final issue size and price band are yet to be announced. Investors are advised to await the final Red Herring Prospectus and price band before making investment decisions, comparing valuations and thoroughly reviewing the use of proceeds and allocation details.