Jio Platforms starts taking public orders for $3.2 billion float, India's biggest yet
Reuters reports Jio Platforms, Reliance's telecom and digital arm, begins public bidding Wednesday for a $3.2 billion float, India's largest share sale so far.
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what happened
Retail bidding for the initial public offering of Jio Platforms (JIOP.NS) opens Wednesday, Reuters reports. The $3.2 billion float would be the largest share sale India has seen, and the first public listing from Mukesh Ambani's Reliance group in twenty years.
The company is valued at up to $108.3 billion and is set to begin trading on October 28. Roughly a third of the shares are earmarked for individual investors. Earlier this week, stock worth $853 million went to institutions including Abu Dhabi Investment Authority and BlackRock, after demand from that group exceeded $25 billion.
According to Reuters, Jio generated roughly $3.2 billion of profit on $15.5 billion of revenue in the year through March, with telecom accounting for most of those results. Bids close Friday within a price band of 1,065 to 1,119 rupees per share.
why it matters
The offering tests global appetite for new listings as investors scrutinise AI-linked companies and Indian shares have been subdued in recent weeks. Strong demand would show whether large funds are still willing to buy emerging-market offerings. A deal of this size could also pull money away from other Indian stocks.
market impact
Indian equities and Reliance Industries: a large new listing may absorb investor cash and set the tone for emerging-market IPOs
tags
instruments
sources
- India's Jio IPO opens for public bids in record $3.2 billion sale — Reuters, 20 October 2026 at 23:00 UTC
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