Jio Platforms files final prospectus; IPO opens Oct 21

Mumbai: Jio Platforms Ltd (JPL), the digital and telecom arm of Reliance Industries, filed its red herring prospectus on Wednesday for an initial public offering that is widely expected to be India's largest, Reliance said in a filing.

The IPO is a fresh issue of up to 27 crore equity shares of Rs 10 face value each. The offer opens for subscription on Wednesday, October 21, and closes on Friday, October 23. Anchor investor bidding is on Monday, October 19.

While the filing did not give a price band, reports suggest the company may be eyeing to raise about Rs 30,000 crore. The shares are expected to list on October 28. The issue includes two reserved portions - up to Rs 500 crore for eligible JPL employees and up to Rs 2,500 crore for eligible Reliance shareholders, according to the filing. These are individuals and Hindu undivided families (HUFs) who hold Reliance shares as of October 14. According to the draft prospectus filed in June, JPL's consolidated revenue from operations rose 14.6 per cent to Rs 1,46,885 crore in the year to March 2026, from Rs 1,28,218 crore a year earlier. Its net profit climbed 15.1 per cent to Rs 30,049 crore from Rs 26,109 crore rupees. Revenue was Rs 1,09,558 crore in FY24, with profit of Rs 21,423 crore. The company's EBITDA rose 18.8 per cent to Rs 76,255 crore, a margin of 51.91 per cent.

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