Reliance Industries (RIL) on Wednesday, October 14, filed the Red Herring Prospectus (RHP) for the initial public offering (IPO) of its subsidiary Jio Platforms (JPL) with the Registrar of Companies, Gujarat, at Ahmedabad.
The IPO will open for subscription on Wednesday, October 21, and close on Friday, October 23, 2026. The anchor investor bidding date has been set for Monday, October 19.
According to the filing, the IPO will include a reservation of equity shares worth up to ₹500 crore for eligible employees and up to ₹2,500 crore for eligible Reliance Industries shareholders.
The reservation for eligible shareholders will be available to individuals and Hindu Undivided Families (HUFs) holding shares in RIL, subject to the eligibility criteria, rules and regulations applicable as of the RHP filing date. Certain shareholders, including those ineligible to invest under applicable laws, will be excluded.
The filing follows RIL’s June 19 disclosure regarding the submission of the Draft Red Herring Prospectus (DRHP) by Jio Platforms in connection with its proposed IPO through a fresh issue of up to 27 crore equity shares with a face value of ₹10 each.
RIL had subsequently disclosed on August 28 that Jio Platforms had received an observation letter from the Securities and Exchange Board of India (SEBI) on the DRHP.
Jio Platforms: More than a telecom business
Jio Platforms positions itself as a technology platform built around four layers: connectivity infrastructure, devices, operating systems and applications. Its businesses span mobile and fixed broadband, enterprise connectivity and digital services, with applications such as MyJio, JioSaavn, JioTV and JioAICloud.
The company’s scale extends beyond mobile services. According to the earlier report, Jio had 524 million mobile subscribers and more than 27 million fixed broadband customers. Its enterprise network also serves businesses and institutions across sectors, including banking, airports and power distribution.
At the end of the June quarter, Reliance Industries had a total of 44.72 lakh small retail shareholders, or those with authorized share capital of up to ₹2 lakh, as per the BSE shareholding pattern. The September shareholding details are yet to be disclosed. These retail shareholders owned 7.16% of the company as of June 30.
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Disclosure: Reliance Industries Ltd, which owns Jio, is the sole beneficiary of Independent Media Trust that controls Network18, the parent company of CNBCTV18.com.