Mumbai: Jio Platforms' ₹30,213-crore initial public offering, the largest share sale India has seen, opened for subscription on Wednesday and will close on October 23.
The issue is priced at ₹1,065 to ₹1,119 a share and is entirely a fresh issue of up to 27 crore shares, meaning the money goes to the company rather than to existing shareholders. A minimum retail bid is 12 shares, or ₹13,428 at the upper band. Listing is tentatively set for October 28 on the BSE and NSE.
Demand was visible before the doors opened. The ₹8,110-crore anchor book was subscribed more than 30 times, with aggregate institutional bids of roughly ₹2.5 lakh crore, according to the company's disclosures.
Jio says around ₹27,500 crore of the proceeds will go towards repaying or prepaying borrowings of its material subsidiary, Reliance Jio Infocomm.
The pitch rests on scale. As of June 2026, the company says it served 533.3 million customers, including 284.9 million 5G users, and carried more than 60 per cent of India's data traffic. Its broadband base includes 28.6 million JioFiber and JioAirFiber homes. It has filed 7,220 patent applications in India and overseas across 4G, 5G, 6G and AI-driven network automation.
Chairman Akash Ambani has described Jio as "a technology company, not just a telco," pointing to satellites, 6G and AI as its next bets. Analysts note that the industry needs heavy, continuous capital, and that Jio's valuation will be read against Bharti Airtel's.
The company has also said it has built an indigenous satellite communications stack, with a proposed constellation of about 1,600 low-Earth-orbit satellites and 23 ground stations aimed at connecting remote and border areas. It describes the plan as proposed. Jio says it has deployed its own end-to-end 5G standalone stack nationwide.