Jio Platforms plans IPO. Reliance Industries stock sits 24.42 percent below its high

Published on 10/06/2026 at 12:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Jio Platforms seeks USD 3.8 billion for its October 21 IPO. For Reliance Industries stock this means FY26 revenue of USD 124.0 billion, up 9.8 percent.

Reliance, INE002A01018, Illustration mit AI erstellt.

Jio Platforms plans to launch a USD 3.8 billion initial public offering on October 21, a move that puts Reliance Industries' digital arm at the center of the group's current investment story. Reuters reported the plan on October 5, 2026, adding that Jio Platforms could list on October 28 and use much of the proceeds to repay telecom debt.

Jio IPO brings a valuation test

The proposed offering would be the first public listing from the Reliance group since 2008 and could become India's largest IPO, according to Reuters. The planned USD 3.8 billion raise gives investors a concrete benchmark for the market value being assigned to Reliance's telecom, cloud and artificial intelligence operations.

Reliance's latest annual figures show why the listing matters for the parent company. In fiscal year 2026, consolidated revenue reached USD 124.0 billion, up 9.8 percent year over year, while net profit rose 17.8 percent to USD 10.1 billion, according to Reliance Industries.

Digital growth is already material

Jio Platforms contributed USD 15.5 billion of revenue in fiscal year 2026, up 14.6 percent year over year. Its EBITDA reached USD 8.0 billion, an 18.8 percent increase, while the EBITDA margin improved by 1.90 percentage points to 51.9 percent, the company said in its investor-relations materials.

The operating scale is also visible in customer data. Jio's user base exceeded 524 million in fiscal year 2026, while its 5G subscriber base exceeded 268 million. That combination of revenue growth and user scale gives the IPO a direct connection to Reliance's broader shift toward digital services.

Stock stays below its yearly high

Reliance Industries stock was valued at INR 1,218.00 on the NSE on October 6, 2026 at 3:15 p.m. IST, 24.42 percent below its INR 1,611.80 52-week high. Market capitalization stood at INR 16.5 trillion on the same date, leaving the upcoming Jio transaction as the clearest near-term valuation reference for the group.