India's securities regulator, SEBI, cleared Jio Platforms to launch its initial public offering, according to an observation letter dated Aug. 28, 2026.
The offering could raise approximately $4 billion through the sale of up to 270 million fresh shares, representing nearly 3 percent of Jio Platforms' total equity and valuing the company above $100 billion. Proceeds will go primarily toward reducing liabilities, with remaining capital allocated to business operations as outlined in the company's draft prospectus filed in mid-June.
The IPO would rank among India's largest public offerings, potentially surpassing Hyundai Motor India's $3.3 billion listing in 2024. Reliance Industries chairman Mukesh Ambani initially discussed a public listing for Jio Platforms in 2019 and committed to a June 2026 target during last year's annual shareholder meeting.
Jio Platforms dominates India's mobile network sector through competitive pricing and rapid subscriber growth. The company has expanded beyond telecom into digital services, e-commerce and enterprise solutions. Meta and Google are existing investors.
