Jio Platforms sets dates for proposed $108 billion IPO

Jio Platforms has set October 21-23, 2026, for bidding on an initial public offering that could become India’s largest, with a proposed valuation of about $108 billion. Shares are expected to begin trading October 28, according to a company filing. The proposed price band is ₹1,065 to ₹1,119 per share. The offering consists of 270 million newly issued shares and is expected to raise about ₹302 billion, or roughly $3.2 billion, at the top of the range. At that price, the company would be valued at about ₹10.3 trillion, according to reported offer terms. The issue would exceed Hyundai Motor India’s 2024 offering, which set the previous Indian IPO record cited in the reports. Jio Platforms is part of Reliance Industries’ digital and telecommunications business. A Bloomberg report, citing people familiar with the matter, said bids had exceeded $20 billion and that Fidelity, Allianz and Capital Group had indicated interest. The anchor-investor list was still being finalized, and reported interest does not confirm participation or allocations. The offering is entirely a fresh share issue, rather than a sale by existing shareholders.