Reliance-backed Jio Platforms IPO: ₹1 lakh crore gains for Meta, Google in ₹30,213 cr issue by Mukesh Ambani firm?

Reliance Industries-backed Jio Platforms is set to launch India's biggest-ever IPO on October 21-23, 2026, with a fresh issue size of about Rs 30,213 crore at a price band of Rs 1,065 to Rs 1,119 per share. The entire issue is a fresh issue with no offer-for-sale component, meaning existing investors Meta (10% via Jaadhu Holdings) and Google (7.73%) are not selling and could have about Rs 1 lakh crore in combined paper gains at the upper price band, with Reliance Industries retaining a controlling 66.43% stake. Proceeds will primarily go toward repayment or prepayment of outstanding borrowings of material subsidiary Reliance Jio Infocomm, alongside general corporate purposes.