Reliance Industries’ subsidiary Jio Platforms filed its red herring prospectus for an IPO opening on October 21 and closing on October 23, 2026. The issue includes 27 crore fresh equity shares. The company plans to use the funds to repay borrowings of Reliance Jio Infocomm and for general corporate purposes.
Reliance Industries' subsidiary Jio Platforms has filed its red herring prospectus (RHP) for its initial public offering (IPO), with the issue scheduled to open on October 21 and close on October 23, 2026. The IPO will comprise a fresh issue of up to 27 crore equity shares, with no offer for sale (OFS) by existing shareholders.
Reliance Industries (RIL) filed the RHP with the Registrar of Companies, Gujarat, at Ahmedabad, on Wednesday, October 14. The document details the IPO structure, the planned use of proceeds and Jio Platforms' latest financial and operating performance for the first quarter of FY27.
Here are seven key facts from the RHP.
Jio Platforms IPO: Key facts
1. IPO to open on October 21
Jio Platforms' IPO will open for subscription on Wednesday, October 21, and close on Friday, October 23, 2026. Bidding for anchor investors is scheduled for Monday, October 19.
2. Fresh issue of up to 27 crore shares
The IPO will comprise a fresh issue of up to 27 crore equity shares, with no offer for sale by existing shareholders. This means the offering will consist entirely of newly issued shares rather than shares sold by existing investors. The final issue price and total amount to be raised will depend on the offer terms.
3. Proceeds to repay borrowings of Reliance Jio Infocomm
Jio Platforms plans to use the IPO proceeds to repay borrowings of its telecom subsidiary, Reliance Jio Infocomm Ltd (RJIL), and for general corporate purposes. The proposed debt repayment will reduce borrowings at RJIL, while the remaining funds can be used for broader business requirements.
4. Up to ₹2,500 crore reserved for RIL shareholders
The IPO provides for a reservation of shares worth up to ₹2,500 crore for eligible Reliance Industries shareholders. Eligible individuals and Hindu Undivided Families (HUFs) holding RIL shares can participate, subject to the criteria and applicable regulations specified in the offer documents. Shareholders barred from participating under applicable laws will not qualify.
5. Up to ₹500 crore reserved for employees
Jio Platforms has earmarked shares worth up to ₹500 crore for eligible employees. This reservation will allow qualifying employees to apply for shares under the terms and conditions set out in the offer documents. It is separate from the portions available to other investor categories.
6. Revenue rises 11.8%, EBITDA grows 15.1% in Q1 FY27
Jio Platforms reported revenue from operations of ₹39,173 crore in Q1 FY27, up 11.8% from ₹35,032 crore a year earlier. EBITDA rose 15.1% to ₹20,865 crore from ₹18,141 crore, while the EBITDA margin widened to 53.26% from 51.78%.
Net profit increased to ₹7,764 crore from ₹7,110 crore. Jio Platforms had 533.3 million customers and added 8.9 million during the quarter. Its average revenue per user (ARPU) stood at ₹215.6 per month.
7. Price band set at ₹1,065–₹1,119 per share
Jio Platforms has fixed the price band for its IPO at ₹1,065–₹1,119 per share. The price band gives investors the range within which they can bid for shares in the offering.