Jio Platforms, the digital services arm of Reliance Industries, has filed regulatory papers for an initial public offering worth about $3.8 billion. According to sources, the offering could become the largest IPO ever in India, surpassing previous records in the country’s capital markets.
The IPO is expected to raise around ₹36,000 crore and represents roughly 2.9% of Jio Platforms’ post-issue equity, valuing the company at approximately $131 billion. The company’s major investors include Meta, Google and several global private equity firms that invested during Jio’s fundraising round in 2020.
Jio Platforms operates India’s largest telecom network with more than 524 million subscribers and has expanded into artificial intelligence, cloud services, enterprise networking and digital platforms. The company reported revenue of $15.6 billion and net profit of $3.19 billion in FY26.
A significant portion of the IPO proceeds will be used to repay debt at Reliance Jio Infocomm, while also supporting future investments in 5G infrastructure, broadband expansion and digital services. The filing marks a major step in Reliance’s strategy to unlock value from its fast-growing technology and telecom businesses.
