Reliance Industries said in a stock exchange filing on Wednesday that its digital arm Jio Platforms had set a price band of 1,065 to 1,119 rupees a share for an initial public offering of up to 270 million new shares, seeking as much as 3.2 billion dollars and valuing the company at about 10.3 trillion rupees, roughly 108.3 billion dollars, at the top of the band. The offer would overtake Hyundai Motor India’s 2024 listing as India’s biggest, and Jio plans to use up to 275 billion rupees of the proceeds to repay debt at its telecom subsidiary Reliance Jio Infocomm, with the rest for general corporate purposes. Jio is India’s largest telecom operator, with more than 524 million subscribers at the end of March, and reported June quarter revenue up nearly 12 percent year on year to 391.7 billion rupees, with net profit up 9 percent to 77.6 billion rupees, according to its prospectus.
Jio sets price band for India's biggest ever IPO
Jio Platforms set a price band of 1,065 to 1,119 rupees a share for an offering of up to 270 million new shares, seeking as much as 3.2 billion dollars in what would be India's largest initial public offering.
Why it matters: The listing values Jio near 108 billion dollars at the top of the band and tests public market appetite for India's dominant telecom and digital platform, with most of the proceeds earmarked to repay debt at its telecom subsidiary.
Data as of Wednesday, October 14, 2026. Reliance Industries stock exchange filing and Jio IPO prospectus figures as reported and read in full at TechCrunch; single outlet report of the filing, so evidence grade is capped at C. Subscription opens October 21 and closes October 23, with anchor bidding on October 19.
Sources
- Ambani's Jio seeks to raise $3.2B in what could be India's biggest IPO · TechCrunch · 2026-10-14