# Reliance Jio Seeks Up to $3.2 Billion in IPO, Which Could Be India's Largest Ever

*2026-10-15 10:01 UTC · Business · 1 min read*

> Jio Platforms is offering up to 270 million new shares at ₹1,065–1,119, valuing the telecom giant at about $108 billion.

Jio Platforms, the digital arm of Mukesh Ambani's Reliance Industries, is seeking to raise up to $3.2 billion in an IPO that could become India's largest, on par with Hyundai Motor India's roughly $3.3 billion offering of 2024. It is offering up to 270 million new shares at ₹1,065 to ₹1,119 each, valuing the company at about ₹10.3 trillion ($108.3 billion) at the top of the range, up from up to $65 billion in 2020.

Anchor investors bid on October 19, and public subscription runs from October 21 to October 23. Up to ₹275 billion (about $2.9 billion) of proceeds will repay debt at Reliance Jio Infocomm; the rest goes to general corporate purposes. Up to ₹25 billion is reserved for Reliance shareholders and ₹5 billion for employees.

Jio has more than 524 million subscribers and is India's largest telecom operator. In the quarter ended June, revenue rose nearly 12% to ₹391.7 billion and net profit rose 9% to ₹77.6 billion. Meta and Google invested $5.7 billion and $4.5 billion in Jio in 2020.

## Sources

- [techcrunch.com](https://techcrunch.com/2026/10/14/ambanis-jio-seeks-to-raise-3-2b-in-what-could-be-indias-biggest-ipo/)

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