India's largest-ever initial public offering opened for public subscription on Wednesday, October 21, as Jio Platforms Limited — the digital and telecom arm of Reliance Industries — began its ₹30,213 crore share sale (yaani roughly $3.2 billion). The issue is entirely a fresh issue of 27 crore equity shares; there is no offer-for-sale component, so no existing shareholder is selling.

The price band is ₹1,065 to ₹1,119 per share, with a lot size of 12 shares — a minimum retail application of ₹13,428 at the upper band. Eligible employees get a discount of ₹54 per share, and Reliance Industries shareholders on record as of October 14 could apply under a reserved shareholder quota. The issue closes on Friday, October 23; allotment is expected around October 26 and listing on the BSE and NSE around October 28.

Ahead of the opening, the company raised ₹8,110 crore from anchor investors on October 19, allotting about 7.25 crore shares at ₹1,119 each to 212 institutional investors, including BlackRock, Fidelity, Capital Group, Norges Bank, the Government of Singapore, Abu Dhabi Investment Authority, LIC and SBI Mutual Fund; banking sources cited in reports said the anchor book drew demand of more than ₹2.5 lakh crore (yaani ₹2.5 trillion).

At the upper end of the price band the company is valued at about ₹10.3 lakh crore (yaani ₹10.3 trillion). According to the offer documents, up to ₹27,500 crore of the proceeds will be used to prepay or repay borrowings of its material subsidiary Reliance Jio Infocomm, with the balance for general corporate purposes.

Jio Platforms' subsidiary Reliance Jio Infocomm served 533.3 million customers as of June 30, 2026, according to company disclosures. Subscription figures for the issue will be published by the stock exchanges as bidding progresses over the three-day window.

Sources: Jio Platforms Red Herring Prospectus details reported by Angel One, Paytm Money and HDFC Sky; opening-day live coverage by 7Globe; anchor allocation details reported by Illustrated Daily News.