Jio Platforms’ IPO is slated to open for subscription on Oct 21, with the issue entirely composed of fresh shares that will be used to slash ₹27,500 crore of outstanding borrowings in its telecom arm. The fresh‑issue structure is designed to keep the proceeds in the company’s coffers, avoiding a sell‑off by existing shareholders.
Retail and high‑net‑worth investors will receive 50 per cent of the shares, with 35 per cent of that tranche capped at ₹2 lakh per applicant and the remaining 15 per cent split between those investing between ₹2 lakh and ₹10 lakh and those putting in more than ₹10 lakh. The other half will go to institutional investors, split between an anchor book opening on Oct 19 and a main institutional book through Oct 23.
The telecom giant’s subscriber base—524.4 million customers as of March 31, 2024, including 268.5 million 5G users—has drawn attention from foreign institutional investors, who have expressed encouraging interest in the deal. Jio also boasts 15 million fixed‑wireless subscribers, roughly 1.5 times the size of T‑Mobile’s network.
Pricing will be finalized next week, after weighing investor feedback and prevailing market conditions. SEBI cleared the draft red‑herring on Aug 28, and the company says the regulatory process is essentially complete. The final price will aim to balance valuation targets with the need to generate a sizeable debt‑repayment pool.
Looking ahead, Jio plans to use the remaining proceeds for general corporate purposes, signalling a focus on long‑term shareholder value. The company’s board will review the pricing recommendation before filing the final prospectus, with a targeted listing on Oct 28 pending market conditions.