Jio Platforms is finalising its public offering papers after a successful global roadshow, aiming to raise $3.8 billion and mark India’s biggest listing, with key presentations led by the Ambani family.
Jio Platforms is putting the final touches on its public offering papers after completing a global roadshow campaign aimed at investors in the United States, Britain, Dubai, Singapore and Hong Kong, according to people familiar with the process. The listing, which is expected to raise about $3.8 billion, would be India’s largest and marks a significant step for Reliance Industries’ digital arm as it moves towards the market. Reuters-style reporting from Business Standard and other Indian financial media said the overseas presentations were led by Akash Ambani, managing director of Jio Platforms and chairman of Reliance Jio, alongside Isha Ambani, executive director of Reliance Retail Ventures.
The company is now preparing to file its red herring prospectus, the document that gives investors the key details of a share sale before it opens. Jio Platforms received the Securities and Exchange Board of India’s final observations on August 28, clearing a regulatory hurdle that had followed the filing of draft papers in June. An email sent to the company seeking comment was not answered, according to Business Standard.
The offering is expected to include as many as 270 million new shares, or about 2.9 per cent of the post-issue equity base. People familiar with the matter have said the issue could value Jio Platforms at roughly $137 billion. Most of the money raised is set to go towards repaying or prepaying about Rs 27,500 crore of debt at Reliance Jio Infocomm, the operating telecom subsidiary, with the balance earmarked for general corporate purposes, according to the draft prospectus.
Jio’s listing comes at a time when India’s primary market remains busy, with more than two dozen initial public offerings announced or launched since July 1, almost matching the 28 seen in the first half of 2026. The company’s public debut would be the first from the Reliance group since 2008 and its first consumer-facing listing.
The group has spent years building Jio into one of the country’s most important digital businesses. Reliance Jio Infocomm says it has a 32.89 per cent share of fixed-line connections, serving 157.9 million customers, and a 39.29 per cent share of mobile connections, with 506 million users. The company also says it operates the largest 5G Standalone network outside China, with 268.5 million 5G customers as of June 2026, and leads the global fixed wireless access market with about 15 million subscribers.
Jio has used that network scale to expand into cloud, artificial intelligence and enterprise services, broadening a business that now sits at the centre of Reliance’s digital strategy. For the year ended March 2026, Jio Platforms reported a 15 per cent rise in net profit to Rs 30,053 crore and a 14.5 per cent increase in revenue to Rs 1,46,885 crore. The company’s shareholder base already includes several major global investors: Meta and Google took stakes in 2020, while Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, the Abu Dhabi Investment Authority, TPG, L Catterton, Intel Capital and Qualcomm Ventures also backed the business. Reliance Industries owns about 66.4 per cent of Jio Platforms, while Meta and Google together hold about 17.7 per cent, according to the draft prospectus.
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