Story perspectives

Jio Platforms Files INR40,000 cr IPO, Repays Debt.

6/21/2026

Summary

Jio Platforms IPO

Jio Platforms Ltd filed a draft prospectus on June 19, 2026 for up to 27 crore (270 million) shares.
The offering could raise between INR35,000 crore and INR40,000 crore, making it the largest IPO in India.
INR27,500 crore will repay Reliance Jio Infocomm Ltd debt, and the rest funds general corporate purposes.
Reliance Industries Ltd retains 66.43 % ownership, while Meta Platforms (9.98 %) and Google International (7.73 %) hold minority stakes and no shareholders are selling shares.

Summary

Jio AI Investment

Meta will lease capacity from a 168 MW AI-enabled data centre that Reliance is building in Gujarat.
Jio plans to spend about $110 billion over seven years on an AI backbone for India.
Analysts say Jio’s IPO filing followed the NSE’s prospectus by one day, sparking market buzz.
Watchers liken the dual Jio and NSE listings to Hyundai Motor India’s $3.3 billion share sale two years ago.

Summary

Jio Boosts 5G

Jio's telecom arm reported 524.4 million subscribers on March 31, including 268.5 million on 5G, despite a 21 percent headcount drop to 27,935.
Operating revenue year ending March 2026 was $15.6 billion, with profit after tax of $3.19 billion.
In 2023 Nvidia partnered with Reliance to build cloud infrastructure, aiding Jio Platforms' expansion into AI and app development.
The IPO prospectus says debt repayment will fund 5G densification, fixed-broadband growth and AI and cloud investment.

History

Historical Context

1990s reforms opened the telecom sector, allowing private firms to enter. Jio Platforms launched in 2016 and quickly gained over 80 million subscribers, sparking a price war. The 2026 IPO, with Meta and Google backing, taps that liberalisation as the sector now serves about 49 million users and prepares for AI-enabled networks.

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Jio Platforms IPO

Jio Platforms Ltd filed a draft prospectus on June 19, 2026 for up to 27 crore (270 million) shares.
The offering could raise between INR35,000 crore and INR40,000 crore, making it the largest IPO in India.
INR27,500 crore will repay Reliance Jio Infocomm Ltd debt, and the rest funds general corporate purposes.
Reliance Industries Ltd retains 66.43 % ownership, while Meta Platforms (9.98 %) and Google International (7.73 %) hold minority stakes and no shareholders are selling shares.

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