Jio Platforms Ltd, the digital and telecom business of Reliance Industries Ltd (RIL), is set to enter the capital market with a mega public offer on October 21, and the issue will be open for subscription till October 23. The company has fixed the price band for the much-awaited IPO at Rs 1,065-1,119 per share.The public offer, which will be the country’s biggest, is a fresh issue sale of 27 crore shares.The company has filed its draft red herring prospectus (DRHP) with the registrar of companies (ROC). The offer includes reservation of equity shares of Jio Platforms for eligible employees worth up to Rs 500 crore. For the eligible shareholders of Reliance, including individuals and Hindu undivided families, the reservation is up to Rs 2,500 crore.The IPO is expected to mobilise about Rs 37,700 crore, or close to $4 billion.Of the issue proceeds, Rs 27,500 crore will be utilised to repay debt and the balance will be used for general corporate purposes not exceeding 25% of the proceeds. RIL holds 66.43% stake in JPL while Meta Platforms of the US, founded by Mark Zuckerberg, has 9.98% and Google 7.73%.Also Read | Musk vows affordable Starlink in India days before Ambani’s record Jio IPONot less than 35% of the net issue will be available for allocation to retail individual investors, according to the DRHP.The proposed IPO of Jio Platforms has been one of the most closely watched developments in India’s capital markets, largely because of the company’s dominant position in telecommunications and its rapidly expanding digital ecosystem. Since its launch in 2016, Jio transformed the country’s telecom sector through aggressive pricing, widespread 4G and 5G adoption and large-scale investments in network infrastructure.Story continues below this adJio has over 524 million subscribers across India. Jio’s network leadership in 5G continued to attract subscribers with a total 5G subscriber base reaching 268 million as of March 2026. Customer engagement also remains robust with 5G now accounting for 55% of total wireless traffic, the company said.Jio Platforms attracted billions of dollars in investments from global technology majors like Meta Platform, Google and Intel in 2020. The fundraising exercise brought in strategic investors who valued the business at levels that placed it among India’s most valuable unlisted companies. Meta invested $5.7 billion to acquire its 9.98% stake in Jio in 2020.Among the large IPOs, Hyundai raised Rs 27,870 crore through its IPO in October 2024, surpassing the Rs 21,008-crore issue of Life Insurance Corporation of India (LIC) in 2022. The National Stock Exchange (NSE) mobilised Rs 22,561 crore through an offer for sale recently. Other landmark offerings include Paytm’s Rs 18,300-crore IPO in 2021 and Coal India’s Rs 15,475-crore issue in 2010. Reliance Power raised around Rs 11,500 crore through its 2008 IPO.George Mathew is an Associate Editor with The Indian Express, based in Mumbai. A veteran of financial journalism with nearly three decades of experience, he is one of the country’s most authoritative voices on banking, regulation, and the corporate sector. Expertise & Focus Areas Mathew’s reporting covers the nerve center of India’s economy. His specialized beats include: The Reserve Bank of India (RBI): He has tracked the central bank's policy evolution through the tenures of multiple Governors, offering deep insights into monetary policy, repo rates, and banking regulation. Banking & Insurance: Extensive coverage of public and private sector banks, non-performing assets (NPAs), and key legislative reforms like the Insurance Amendment Bills. Corporate Affairs: Mathew frequently breaks major stories related to India's largest conglomerates, with a specific focus on the Tata Group, documenting boardroom shifts and strategic decisions. Financial Markets: Reporting on the complexities of Foreign Portfolio Investors (FPIs), IPOs, and currency fluctuations. Authoritativeness & Insight With a career dating back to the late 1990s, Mathew possesses a rare institutional memory of India’s financial liberalization and market crises. His work is not limited to daily news; he frequently contributes to the "Explained" section, where he decodes complex financial legislations and market trends for a broader audience. His rigorous reporting has also been featured in scholarly platforms like the Economic and Political Weekly (EPW). Find all stories by George Mathew here ... Read More