Ramesh Damani, Member of the BSE, expects the much-awaited Jio Platforms IPO to be well received, citing the company’s scale, rapid expansion and execution capabilities. “In 10 years, they’ve taken this company from zero to IPO ready,” he said.
Reliance Industries’ subsidiary Jio Platforms has filed the red herring prospectus (RHP) for the IPO issue, which is scheduled to open on October 21 and close on October 23, 2026. The IPO will comprise a fresh issue of up to 27 crore equity shares, with no offer for sale (OFS) by existing shareholders.
According to Damani, building a business of this scale in a relatively short period is a significant achievement, particularly given Reliance’s earlier restrictions in the telecom sector.
Damani highlighted Jio’s reach across India, “What astonishes me is the sheer scale of what we are talking about,” Damani said, referring to Jio’s reach of around 550 million people, or nearly one-third of India’s population.
Beyond mobile connectivity and data services, Damani believes value-added services could be an important source of growth for Jio Platforms over the coming years.
He said the value in telecom is increasingly shifting beyond basic connectivity towards services built on top of the underlying technology platform. Jio’s global-scale technology infrastructure could provide opportunities to expand these offerings.
“The value addition is not necessarily in data and connectivity and a SIM card anymore. It’s in adding the value-added services,” Damani said.
He added that the company’s progress over the next decade would be worth watching as telecom services evolve through new technologies and delivery models.
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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.
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