Why The Jio IPO Could Be One Of India’s Biggest IPOs

The Jio IPO has been attracting attention for several reasons, but the potential size of the issue is one of the biggest. There are now expectations that the IPO could hit the market as early as September 2026, although Jio has not announced an official launch date yet.

The proposed issue itself gives some idea of the scale. The entire issue will be a fresh issue, with the final amount depending on the price at which the shares are offered.

Jio is already a large, established business with a massive customer base and operations spanning telecom, digital services, and technology. If the issue comes to the market at the scale currently being discussed, it could rank among India's biggest IPOs.

How Much Could Jio Raise Through The IPO?

The size of the Jio IPO is one of the main reasons it has attracted so much attention. The proposed issue consists entirely of a fresh issue of up to 27 crore equity shares. There is no Offer for Sale (OFS) component.

The final amount will depend on the price at which these shares are offered. Current reports have put the potential fundraise at around ₹37,700 crore, although this is not the final issue size. At that level, the IPO would be larger than Hyundai Motor India's ₹27,870 crore issue and could rank among the biggest public offerings in India.

Why Could The Jio IPO Be So Large?

Besides the size of the IPO, the scale of Jio’s business is another reason for its popularity. Jio is already operating at a scale that few companies coming to the IPO market can match. Its telecom business has a customer base of more than 524 million, while the wider business also includes broadband, digital services, enterprise solutions, and technology offerings.

The financial numbers add to that scale. Jio reported operating revenue of ₹1.47 lakh crore in FY26, while its March 2026 quarter operating revenue stood at ₹44,928 crore. Profitability has also continued to improve, with net profit for the March quarter rising 13% year-on-year to ₹7,935 crore.

The fact that the IPO is entirely a fresh issue also matters. The money is expected to help strengthen the business. A part of the proceeds will go towards clearing certain borrowings, which can improve Jio's books and leave more room for future expansion. That potential to strengthen an already large business could be another reason why the IPO is attracting investor interest.

Where Does Jio Stand Ahead Of The IPO?

Jio Platforms took a major step towards its listing on 19 June 2026, when it filed its Draft Red Herring Prospectus (DRHP) with SEBI.

The DRHP has also given more clarity on the proposed issue. Jio has appointed 19 Book Running Lead Managers, while KFin Technologies has been named as the registrar. The shares are proposed to be listed on both BSE and NSE.

There are still a few steps left before the IPO can open. The company will need to receive SEBI's observations, file the Red Herring Prospectus (RHP), announce the price band, and then open the issue for subscription. Once the issue opens, investors can monitor the IPO subscription status to track demand across categories. The allotment and listing will follow after that.

The company has not announced the final IPO dates yet. However, September 2026 is being discussed as a possible timeframe. So, the next few weeks could bring more clarity on the launch.

What Is In Store For Investors?

The Jio IPO offers a chance for investors to participate in a business that has already reached a large scale. Jio has a huge customer base, a strong position in India's telecom market and businesses across digital services, broadband, enterprise solutions, and technology.

However, the size of the IPO is not the only thing investors will look at while investing. The valuation will become clearer once Jio announces the price band. Its debt and profitability will also matter, along with the performance of its newer businesses. At the same time, investors will want to see whether its large customer base helps the company grow its revenue and profits further.

The final IPO size could also be different from the figure being discussed today. The DRHP proposes a fresh issue of up to 27 crore shares, but the price of these shares has not been decided yet. A lot will also depend on the market mood at the time of the IPO and the response the IPO gets from investors.

Conclusion

The Jio IPO could be one of India's biggest public issues, given the size of the business and the scale of the proposed offering.

For investors, however, the final price will matter just as much as the size of the issue. Jio's financial performance, debt position, growth across its newer businesses and the valuation at which it enters the market will all need a closer look.

The IPO has already moved into the formal process with the DRHP filing. With the price band, issue dates and other details still awaited, there could be some changes before the shares finally reach the market.

Note to readers: This article is part of Mint’s paid consumer connect Initiative. Mint assumes no editorial involvement or responsibility for errors, omissions, or content accuracy.