Story perspectives

Jio Files $3-4 B IPO, 524 M Subscribers

6/20/2026

Summary

Jio Platforms IPO

Jio Platforms' board approved its draft prospectus and filed it with SEBI on June 19, 2026.
The IPO will issue up to 27 crore (270 million) Rs 10 shares, targeting a $3-4 billion raise and a Rs 12-15 lakh crore valuation.
FY26 revenue hit Rs 1,72,317 crore with net profit of Rs 30,053 crore, a 15 percent rise.
The subscriber base grew to 524 million (268 million 5G users), with Reliance retaining 66.43 percent while Meta (9.98 percent) and Google (7.73 percent) did not sell shares.

Summary

Reliance launches Jio

Reliance Industries will list Jio in an IPO, its first major unit offering since the 2006 Reliance Petroleum sale.
A March securities rule lets firms with post-issue market capitalisation over 5 trillion rupees dilute as little as 2.5 percent, easing Jio’s large offering.
Meta Platforms will lease capacity at Reliance’s 168-MW AI data centre in Gujarat, extending a partnership that began with a $5.7 billion 2020 investment.

History

Historical Context

India’s 1994 National Telecom Policy, driven by Prime Minister P. V. Narasimha Rao, ended the state monopoly and led to TRAI’s creation on 20 Feb 1997, opening the market to private operators. When Jio Platforms launched in 2016, it quickly gathered over 80 million users and sparked a price war, establishing the regulatory backdrop for today’s Jio IPO.

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Jio Platforms IPO

Jio Platforms' board approved its draft prospectus and filed it with SEBI on June 19, 2026.
The IPO will issue up to 27 crore (270 million) Rs 10 shares, targeting a $3-4 billion raise and a Rs 12-15 lakh crore valuation.
FY26 revenue hit Rs 1,72,317 crore with net profit of Rs 30,053 crore, a 15 percent rise.
The subscriber base grew to 524 million (268 million 5G users), with Reliance retaining 66.43 percent while Meta (9.98 percent) and Google (7.73 percent) did not sell shares.

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