Jio Platforms to kick off global investor outreach this week for $3.8 billion IPO

After securing Sebi approval for its mega initial public offering, widely expected to be India’s biggest-ever public issue at around $3.8 billion, Jio Platforms is set to begin investor outreach later this week, according to sources.

The digital services arm of billionaire Mukesh Ambani-led Reliance Industries received the go-ahead from markets regulator Sebi last month, clearing the way for what could become the country’s largest stock-market listing. Jio Platforms had filed its draft IPO papers in June, while Sebi issued its final observations on August 28.

Jio Platforms to meet global investors ahead of mega IPO

According to sources, Jio Platforms will begin its investor outreach by the end of this week, with meetings planned with investors across major global financial centres, including the US, Hong Kong, Singapore and the UK.

The global roadshow will come ahead of the proposed public issue, which could value Jio Platforms at around $137 billion, people familiar with the matter had earlier indicated.

An email query sent to Jio seeking comments on the investor outreach plans did not elicit a response.

According to its draft prospectus, Jio Platforms plans to issue up to 27 crore fresh equity shares, equivalent to around 2.9% of its post-issue equity base.

IPO proceeds to repay ₹27,500 crore Jio debt

A substantial portion of the IPO proceeds is earmarked for debt reduction. According to the draft prospectus, the company plans to use the funds primarily to repay or prepay, either fully or partly, around ₹27,500 crore of outstanding borrowings of Reliance Jio Infocomm Ltd, Jio Platforms’ material subsidiary.

The remaining proceeds will be used for general corporate purposes.

The proposed IPO comes at a time when India’s primary market continues to see strong activity, supported by participation from retail investors and domestic institutional investors.

More than two dozen IPOs have been announced or launched since July 1, nearly matching the 28 public issues recorded during the first half of 2026.

Jio dominates telecom as digital business expands

Jio Platforms houses Reliance’s digital businesses, including its telecommunications operations. Reliance Jio Infocomm, the telecom arm of Jio Platforms, holds a dominant position in India’s connectivity market, with a 32.89% share of fixed-line connections and 157.9 million customers. In mobile connections, it commands a 39.29% share with 506 million customers.

Jio Platforms also operates the largest 5G Standalone network outside China, with 26.85 crore 5G customers as of June 2026. It leads the global Fixed Wireless Access segment with around 1.5 crore subscribers, roughly 1.5 times the subscriber base of the second-largest player, US-based T-Mobile.

The company claims that its 5G network carries close to 60% of India’s wireless data traffic, putting its network capacity among the largest in the world.

Leveraging its network reach and data-handling capabilities, Jio has expanded beyond telecom into several areas of the digital economy, including cloud services, artificial intelligence and enterprise network services.

Jio Platforms profit rises 15% to ₹30,053 crore in FY26

Jio Platforms reported a 15% increase in profit after tax to ₹30,053 crore in FY26, while annual revenue rose 14.5% to ₹1,46,885 crore.

The company has previously attracted several major global technology and financial investors. In 2020, Meta invested ₹43,574 crore for a 9.99% stake in Jio Platforms, while Google invested ₹33,737 crore for a 7.73% holding.

Other investors, including Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, Abu Dhabi Investment Authority, TPG, L Catterton, Intel Capital and Qualcomm Ventures, collectively invested around ₹74,745 crore for an approximately 15.2% stake.

Reliance Industries owns around 66.4% of Jio Platforms, while Meta and Google together hold around 17.7%, according to the draft prospectus.

The proposed listing would mark the first public offering from the Reliance group since 2008 and the first IPO of a consumer-focused business within the conglomerate.

Jio Platforms is chaired by Mukesh Ambani, while his eldest son Akash Ambani serves as its managing director. Akash Ambani is also chairman of Reliance Jio Infocomm Ltd, the group’s telecom arm.