Jio Platforms combines Reliance Industries’ consumer telecom network with cloud, AI and enterprise-network services. Mobile and home-internet subscribers use its connectivity, while businesses buy digital infrastructure. Reuters reported on October 5 that Jio plans to open a roughly $3.8 billion IPO on October 21, citing two people familiar with the matter.
A Press Trust of India report carried by Business Standard said the draft prospectus provides for up to 270 million new shares, equal to about 2.9% of the company after the offering. Reuters said most of the proceeds would repay debt owed by Jio’s telecom division and that the shares are expected to list on October 28.
Connectivity gives the broader platform its scale. The PTI report put Jio at 506 million mobile connections and 268.5 million 5G customers as of June 2026, alongside about 15 million fixed-wireless subscribers. Separate Indian government data recorded 14.35 million wired-broadband subscribers for Jio’s telecom arm at the end of April.
The services cover different customer needs but share the same underlying network. Consumers connect phones and homes through mobile, wired and fixed-wireless products; Jio then uses that infrastructure and its data capacity to support cloud, AI and enterprise-network offerings for businesses.
Reliance Industries owns about 66.4% of Jio Platforms, while Meta and Google collectively hold approximately 17.7%, according to draft-prospectus figures reported by Business Standard. The timetable and final offering terms remain unconfirmed: Reuters’ sources were not authorized to speak publicly, and Reliance did not respond to its request for comment.
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