In big news at this hour, Jio Platforms, the digital services division of Reliance Industries, has received SEBI approval for an initial public offering that could raise around $4 billion (approximately Rs 37,700 crore), making it potentially the largest public issue in the country.
Jio Platforms had filed its draft papers with the markets regulator in June for the proposed public issue. According to an update with the market regulator, Jio Platforms obtained SEBI’s final observations on August 28.
Jio Platforms IPO: SEBI issues observation on August 28
The SEBI website has stated that “Observations issued during the Week on 28-08-2026.” In SEBI parlance, this means that the company has been allowed to launch the IPO by the market regulator. However, this approval for raising finds via IPO is valid for 1 year from the date of approval.
Jio Platform IPO details
According to the Draft Red Herring Prospectus (DRHP), the company will offer up to 27 crore fresh equity shares. The issue will account for around 2.9 per cent of the company’s total equity base post-issue.The approval paves the way for Jio Platforms to proceed with its much-anticipated public offering, which will be closely watched by investors and the broader market.
However, the price band is yet to be determined through the book-building process and the company will be announcing the IPO dates and price band soon.
About Jio Platforms
Jio Platforms, a subsidiary of Reliance Industries, operates across telecom and digital services in India. Its network combines nationwide connectivity with a digital technology platform, allowing users to access internet and other digital services.
As of March 31, 2026, Jio held around 50% of India’s wireless broadband market and carried nearly 60% of the country’s wireless data traffic. Reliance Jio Infocomm had 524.4 million customers at the end of FY26, with the business serving both individual consumers and enterprise customers.