Jio Platforms, the Reliance Industries company that owns Reliance Jio, is getting ready for its stock market debut. It filed its draft prospectus with SEBI on 19 June 2026 and received SEBI's observation letter on 28 August, but the price band and bidding dates have not been announced yet.
What the draft prospectus says
The IPO will be a fresh issue of up to 27 crore equity shares with a face value of ₹10 each. There is no offer for sale, so existing shareholders, including Reliance, are not selling any of their shares. All the money raised goes to the company.
Jio Platforms plans to use up to ₹27,500 crore to repay or prepay loans taken by Reliance Jio Infocomm, its telecom subsidiary. The rest will go towards general corporate purposes. The shares are proposed to be listed on both BSE and NSE.
Reliance Industries owns about 66.43% of Jio Platforms before the issue and will stay the controlling shareholder after it.
How the shares will be split
The issue will be priced through book building, where investors bid within a price band and the final price is set from those bids. Up to 50% of the shares are reserved for qualified institutional buyers such as mutual funds and insurers. At least 35% is set aside for retail investors.
The draft also has separate portions for eligible Reliance Industries shareholders and for employees. Their size has not been disclosed yet.
What is still not known
The price band, issue dates, lot size and the size of the shareholder quota will only be fixed in the red herring prospectus (RHP), the near-final document filed just before the issue opens. The rules on which Reliance shareholders qualify for their quota are expected in the RHP too.
Some media reports have put out expected price bands and dates, but they differ from one another, and none of them comes from the company. Until the RHP is filed, treat any price or date you see as a guess.
What the SEBI letter means
An observation letter is SEBI's comments on the draft prospectus. It allows the company to go ahead with the IPO, but it is not a judgement on whether the shares are a good investment. The letter is valid for 12 months, so Jio Platforms has until August 2027 to launch the issue.
Frequently asked questions
When does the Jio IPO open?
No date has been announced. The bidding dates will be fixed in the red herring prospectus, which has not been filed yet.
How much money will the Jio IPO raise?
The final size depends on the price band, which is not known yet. The draft prospectus offers up to 27 crore new shares, and up to ₹27,500 crore of the money raised is meant to repay Reliance Jio Infocomm's loans.
Is there a quota for Reliance shareholders?
Yes. The draft prospectus has a separate portion for eligible Reliance Industries shareholders. Its size and the date that decides who is eligible have not been announced.
This story is for education only and is not investment advice.