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Jio IPO 2026: Mukesh Ambani Eyes Navratri-Diwali Launch for ₹37,800 Crore Mega Issue

Posted on 4th Sep 2026 12:29 pm by rohit kumar

Jio Platforms Limited, the digital and technology arm of Reliance Industries, is preparing for what could become India's largest-ever IPO. The company has received SEBI's approval to proceed with its proposed public issue, while reports indicate that the offering could be launched around the Navratri-Diwali festive period.

 

The expected issue size is around ₹37,700-₹37,800 crore. If launched at that level, the Jio Platforms IPO would surpass Hyundai Motor India's ₹27,859 crore IPO of 2024 and become the biggest IPO in India's stock-market history.

 

However, the final IPO size, price band and opening date have not yet been announced.

 

Jio IPO 2026: When Could the Issue Launch?

 

Reports suggest Jio Platforms could target the Navratri-Diwali period for its IPO. This year, Navratri begins on October 11 and Dussehra falls on October 20, while Dhanteras is on November 6 and Diwali on November 8.

 

If the company does not launch the issue during the Navratri window, the Diwali period could become the next potential window.

 

The festive-season timeline is currently based on reports and market sources and should not be treated as an officially confirmed IPO opening date.

 

Jio Platforms IPO Gets SEBI Approval

 

Jio Platforms filed its Draft Red Herring Prospectus with SEBI on June 19, 2026. The market regulator subsequently issued its final observations on August 28, clearing a major regulatory hurdle for the proposed IPO.

 

SEBI approval does not mean the IPO opens immediately. The company still needs to finalise important details, including the price band and issue schedule, before the public offering begins.

 

Jio IPO to Issue Up to 27 Crore Fresh Shares

 

According to the DRHP, Jio Platforms proposes to issue up to 27 crore fresh equity shares with a face value of ₹10 each.

 

The fresh issue represents approximately 2.9% of the company's post-issue equity capital. Importantly, the proposed IPO is structured as a fresh issue rather than an offer for sale, meaning existing investors are not selling their shares through an OFS component.

 

The final issue price will be determined through the book-building process.

 

₹27,500 Crore of IPO Proceeds for Debt Repayment

 

A major portion of the money raised through the IPO is planned to be used for reducing borrowings at Reliance Jio Infocomm Limited (RJIL), Jio Platforms' material subsidiary.

 

According to the draft prospectus, approximately ₹27,500 crore is intended for the repayment or prepayment of outstanding borrowings at RJIL. The remaining proceeds are earmarked for general corporate purposes.

 

This makes debt reduction one of the most important purposes of the proposed Jio Platforms IPO.

 

Why the Jio IPO Could Become India's Biggest

 

At an estimated issue size of around ₹37,700 crore, the Jio Platforms offering would exceed the current record held by Hyundai Motor India, whose 2024 IPO raised around ₹27,859 crore.

 

The potential Jio issue would therefore become India's largest IPO by issue size if it is launched around the currently reported amount.

 

The offering is also significant because it would bring one of Reliance Industries' most important digital businesses directly into the public markets.

 

Global Investors Already Have Stakes in Jio Platforms

 

Jio Platforms has attracted major global investors since its large fundraising round in 2020.

 

According to the company's draft prospectus, Reliance Industries owns around 66.4%, while Meta's investment vehicle holds approximately 9.98% and Google International holds around 7.73%.

 

Other investors include Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, the Abu Dhabi Investment Authority and the Public Investment Fund, among others.

 

Jio IPO Roadshows: What Happens Next?

 

Before a large IPO opens, companies typically conduct meetings with institutional investors to explain their business, financial performance, growth strategy and valuation.

 

Reports suggest Jio Platforms could conduct international investor roadshows followed by meetings with domestic institutional and other investors.

 

The company is expected to finalise the IPO timetable and price-related details before the public issue opens.

 

What Is a DRHP?

 

A Draft Red Herring Prospectus (DRHP) is the preliminary offer document filed with the market regulator before an IPO.

 

It contains important information about the company, including its business operations, financial performance, risks, promoters, shareholding structure, proposed issue and utilisation of funds.

 

Jio Platforms filed its DRHP with SEBI on June 19, 2026.

 

What Investors Should Watch Before the Jio IPO

 

Although the proposed issue is attracting considerable attention, investors will need to wait for the final IPO documents before evaluating the offering.

 

Key details to watch include:

Final IPO opening and closing dates

Price band and issue price

Valuation

Retail and institutional allocation

Minimum investment amount

Financial performance

Debt position

Risk factors

Final use of IPO proceeds

Jio IPO 2026: What We Know So Far

 

The proposed Jio Platforms IPO has already crossed a major milestone with SEBI's approval. The company plans to issue up to 27 crore fresh shares, with a large portion of the proceeds intended for debt repayment at Reliance Jio Infocomm.

 

If the final issue size remains close to the reported ₹37,700-₹37,800 crore, Jio Platforms would create a new record as India's largest IPO.

 

For now, however, investors should treat the Navratri-Diwali launch window and ₹37,800 crore figure as reported/expected details, until Jio Platforms formally announces the final issue dates, price band and size.

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