₹30,000 crore Reliance Jio IPO:Company says it will target regions across India for affordable internet service

Reliance Industries Limited (RIL) officially announced the public listing of its digital and telecom arm, Jio Platforms. The Initial Public Offering (IPO) will open for subscription from October 21 to October 23, making it the largest public issue in Indian stock market history. Through this IPO, the company plans to raise approximately ₹30,213 crore by issuing 27 crore fresh equity shares. Akash Ambani, MD, Jio Platforms said the mission of Jio is to connect every Indian home with the highest-quality internet at affordable rates. He said that Jio boosts of world’s largest 5G customer base outside China. He added that the Reliance Industries Limited launched Jio to change India from a data-scarce nation to a data-scaled nation. Ambani further said that Jio’s infrastructure is very hard to replicate by our competitors. He said that last year Jio added 3 times more active additions than nearest competitors adding that 40% of net additions are coming from outside tier-1 and tier-2 cities. Ambani said that Jio is not only competing for the broadband market but also for the entire digital services market share in India. Jio Platforms IPO: Key Details at a Glance India’s Biggest IPO Yet At over ₹30,200 crore, Jio Platforms will dethrone Hyundai Motor India (which raised ₹27,858 crore in 2024) to become the biggest IPO ever launched in India. Special Quota for Employees and RIL Shareholders The company has set aside ₹3,000 crore worth of shares for eligible employees and existing Reliance Industries shareholders: For Employees: Shares worth up to ₹500 crore are reserved. Eligible employees will also receive a discount of ₹54 per share. For RIL Shareholders: Shares worth up to ₹2,500 crore are reserved for individual investors and HUFs who held RIL equity shares as of October 14 (the date of RHP filing). Regulatory Approvals and Filing RIL informed the stock exchanges (BSE and NSE) that Jio Platforms filed its Red Herring Prospectus (RHP) with the Registrar of Companies (RoC) in Ahmedabad on Wednesday. June 19: Draft Red Herring Prospectus (DRHP) submitted. August 28: Markets regulator SEBI granted approval (Observation Letter). October 14: Final RHP filed with RoC. About Jio Platforms Headquartered in Mumbai, Jio Platforms houses Reliance’s telecom and digital services business. It is India’s largest telecom operator, growing its subscriber base to 52.44 crore by the end of FY26, up from 48.82 crore in FY25. In addition to running India’s largest mobile network, Jio Platforms develops and exports advanced 5G software, cloud-native solutions, and enterprise AI tools to global telecom firms. Knowledge Corner: What is an RHP? A Red Herring Prospectus (RHP) is an official document submitted by a company to SEBI and the Registrar of Companies before launching an IPO. It contains detailed information about the company’s business operations, financial health, promoters, and potential business risks. Unlike the final prospectus, it provides an estimated price band rather than a fixed final issue price.