Reliance Jio IPO 2026: Expected Timeline
The Reliance Jio IPO is getting closer. The company submitted its Draft Red Herring Prospectus (DRHP) to SEBI on 19th June, 2026. SEBI gave its final observations on the IPO on August 28. The company has also completed overseas investor roadshows. The official offer date is still awaited.
According to the latest reports, Jio Platforms is expected to file its final IPO papers with SEBI in the week starting October 12. The IPO may open sometime between October 20 and October 23. The shares could then be listed by the end of October.
Here’s a quick look at the key Reliance Jio IPO details:
Many details, which aren’t clear as of today, will be disclosed when the final offer documents are published.
Reliance Jio IPO size and issue structure
Jio Platforms is planning to issue up to 27 crore new equity shares, each having a face value of ₹10. There is no Offer for Sale, or OFS, in the proposed offer. It will be only a fresh issue. So the whole IPO money will go to Jio Platforms, since there are no existing shareholders selling their shares.
The proposed 27 crore shares would represent around 2.9% of Jio Platforms’ post-issue equity capital. Reports estimate the issue size at around $3.8 billion. If it goes ahead at this scale, the Reliance Jio IPO could become India’s biggest IPO, surpassing the ₹27.858 crore Hyundai Motor India IPO.
About Jio Platforms
Jio Platforms is the digital services company that houses Reliance’s telecom and other digital businesses. Reliance Jio Infocomm makes up the largest part of the business. Jio also operates across areas such as cloud, artificial intelligence (AI) and enterprise digital services.
As of June 2026, Jio has around 506 million mobile customers and a 39.29% share of India’s mobile connections. It also had about 157.9 million fixed-line customers. Jio’s 5G business has also grown quickly. As of June 2026, the company had around 268.5 million 5G customers.
The company is also expanding beyond telecom. Its digital business includes cloud services, AI, enterprise network services and other digital products.
What do the financials say?
Jio Platforms has been growing both revenue and profits. In FY26, Jio Platforms reported:
In FY26, the revenue grew by around 14.5%, while profit after tax (PAT) went up by over 15%. Jio also reported strong operating numbers in FY26. Its subscriber base crossed 524 million by March 2026, while its 5G subscriber base crossed 268 million. Jio AirFiber has around 13 million connected homes.
Jio Platforms reported operating revenue of about ₹39,173 crore and EBITDA of around ₹20,865 crore for the quarter. Its ARPU was ₹215.60. However, the customer base slightly dropped from 524 million in March 2026 to 509 million in June 2026.
Where will Reliance Jio IPO money go?
Jio Platforms plans to use up to ₹27,500 crore of the IPO money to repay or prepay some borrowings of its telecom subsidiary, Reliance Jio Infocomm Limited. The remaining IPO proceeds will be kept aside for the company’s general business needs.
This is an important consideration because Jio has been investing heavily in its network and broadband business. As of 31st March, 2026, Jio Platforms had total borrowings of about ₹70,781 crore. Its net leverage had fallen to 0.36 times in FY26 from 0.71 times a year earlier. Using IPO money to reduce debt can lower the company’s interest burden and give it more financial flexibility.
Reliance Jio IPO: Strengths & Weaknesses
Strengths:
- Jio’s customer base grew from 481.8 million in FY24 to 524.4 million in FY26.
- Jio accounted for 67.56% of net fixed broadband additions in FY26.
- Jio has 360,382 towers and over 1 million route-km of fibre, covering over 99% of India’s population.
- Reliance Retail, part of the promoter group, contributed 77.08% of Jio’s FY26 revenue from operations.
Weaknesses:
- Policy changes could raise costs, including the disputed ₹1,389.10 crore spectrum usage charge.
- A 2-hour Gujarat network outage in FY26 highlights risk of service disruptions and customer churn.
- Bharti Airtel held a 35.13% wireless broadband share against Jio’s 49.95%, keeping competition strong.
The bottom line
A few important details are still pending before the IPO opens. The first is the final offer document. This should provide updated details about the issue. The second is the price band. This will tell you how much you need to pay for each share. The third is subscription dates and lot size. This will tell you the minimum amount required to apply for one lot.
For now, the broad picture is clear. Reliance Jio IPO is shaping up to be one of the biggest market events of 2026. Until then, you can keep track of the official filings before its October launch.
