The Indian primary market has reached a new milestone as Jio Platforms, the digital and telecom arm of Reliance Industries Limited (RIL), opened its initial public offering (IPO) for public subscription on Wednesday, October 21. Seeking to raise approximately ₹30,213 crore via a complete fresh issue of up to 27 crore equity shares, the offering surpasses Hyundai Motor India’s 2024 record to become the largest IPO in domestic capital market history. The three-day subscription window remains open until October 23, marking the Reliance conglomerate’s first public listing in nearly two decades. Following the issue, RIL will continue to retain majority ownership in the digital entity. Key IPO Specifications & Timeline Issue Window: October 21 – October 23, 2026 Price Band: ₹1,065 to ₹1,119 per equity share Bid Lot: 12 equity shares (and multiples of 12 thereafter) Minimum Retail Investment: ₹13,428 (at the upper price band) Listing Date: Scheduled for October 28, 2026, on both BSE and NSE Issue Structure: 100% fresh issue; no offer-for-sale (OFS) component Quota Allocations: At least 35% reserved for retail individual investors (RII); dedicated reservation portions allocated for eligible RIL shareholders (up to ₹2,500 crore) and eligible employees (up to ₹500 crore) Valuation and Corporate Impact At the upper band of ₹1,119 per share, Jio Platforms commands an enterprise valuation of approximately ₹10.3 lakh crore ($108 billion). This valuation will place Jio Platforms as India’s fourth most valuable listed company by market capitalisation upon listing—trailing only parent company RIL (₹15.9 lakh crore), Bharti Airtel (₹11.2 lakh crore), and HDFC Bank (₹11 lakh crore), while surpassing majors like TCS, ICICI Bank, and State Bank of India. The listing also reshapes India’s conglomerate hierarchy. Adding Jio Platforms’ valuation expands RIL Group’s combined market capitalisation to roughly ₹28.5 lakh crore, edging past Tata Group’s ₹25.5 lakh crore to secure the top spot among Indian business groups. Post navigation Stock Market and Bank Holiday: Trading Suspended on October 20 for Dussehra
