What Is the Jio Platforms IPO and Who Is Behind It?
Jio Platforms houses India’s biggest wireless operator and is the digital services arm of Reliance Industries. Its 533 million subscribers give it a “strong foundation for future growth”, according to Motilal Oswal.
Jio launched a decade ago with steep discounts that pulled customers from Bharti Airtel and Vodafone. The IPO is seven years in the making.
How Did the Jio Platforms IPO Fill in 100 Minutes?
Bids exceeded the 197.5 million shares on offer within 100 minutes of opening, according to BSE data. Local media called it India’s “fastest-ever subscribed IPO”.
The source does not state the exact oversubscription multiple, so the size of the excess demand is unconfirmed.
How Big Is the Jio Platforms IPO and When Does It List?
- Issuer: Jio Platforms, parent Reliance Industries
- Shares offered: 197.5 million
- Target size: up to US$3.2 billion (RM13 billion)
- Listing venue: Mumbai
- Expected debut: likely October 28
- Offer price: not disclosed in the source
- Subscription closing date: not disclosed in the source
- Use of proceeds: not disclosed in the source
- Bursa board (ACE or Main Market): not applicable, as this is an Indian listing
The source reports that most analysts expect gains on debut. Only Motilal Oswal is named, and it flagged the need for newer digital services to prove monetisation.
Why Does Reliance’s Oil Business Shape the Jio Platforms IPO?
Reliance Industries is India’s most valuable listed company, yet it still depends heavily on its traditional oil business. The IPO marks a strategic shift to diversify beyond oil, with Jio central to AI and tech ambitions.
US adviser Peter Navarro criticised Indian tycoons last year for profiting from discounted Russian crude. Ambani later backed construction of America’s first major new oil refinery in half a century, and is set to meet US Secretary of State Marco Rubio in Jamnagar on 21 October.
What Are the Key Risks for Jio Platforms Shareholders?
- Monetisation: Motilal Oswal says monetisation of newer digital services still needs to be “demonstrated at scale”.
- Competition: Jio operates in a competitive telecom landscape.
- Starlink: Reports say Jio is considering a low-orbit satellite constellation that would compete with Musk’s Starlink.
- Political friction: Musk accused unnamed Indian “oligarchs” of blocking Starlink’s rollout and called Ambani the “real boss of India”.
- Market backdrop: the source cites weak performance of Indian equities this year.
Reliance replied that it had never “feared competition” and welcomed rival satellite offerings, including Starlink.
Which Malaysian Stocks Should Investors Monitor Alongside This IPO?
The source names no Bursa Malaysia-listed company, so no local ticker is tied to this deal. Investors may want to watch the Mumbai debut as a read-through on Indian telecom and digital services sentiment.
How Can Malaysian Retail Investors Apply for the Jio Platforms IPO?
The source does not say whether Malaysian retail investors can apply for this Mumbai listing. Check with your broker before taking any step.
For Malaysian IPO applications, use the M+ Global app with Invitation Code UBZQ, and WhatsApp +60169059789 for assistance. The M+ Online app stopped working on 19 December 2025, so M+ Global is the only route. Online applications need a direct CDS account in your own name, and only one application per IPO is allowed. Read more on IPO Investing with M+ Global.
Key Takeaways
- The Jio Platforms IPO was fully subscribed within 100 minutes, with bids exceeding 197.5 million shares.
- The deal targets up to US$3.2 billion (RM13 billion), likely India’s biggest-ever listing.
- The Mumbai debut is expected around October 28, but the offer price is not disclosed in the source.
- Key risks include monetising digital services at scale, telecom competition and Starlink’s satellite push.
This article is for information only and is not investment advice. Do your own research and consider your risk tolerance before making any decision. Source: AFP via MalayMail.
Frequently Asked Questions
How much did the Jio Platforms IPO raise?
The Jio Platforms IPO targets up to US$3.2 billion (RM13 billion), according to AFP. Bids exceeded the 197.5 million shares on offer within 100 minutes.
When will Jio Platforms shares start trading?
Jio Platforms is expected to debut in Mumbai on or around October 28, per the source. The source describes this date as likely, not confirmed.
Was the Jio Platforms IPO oversubscribed?
Yes, bids exceeded the 197.5 million shares on offer within 100 minutes, according to BSE data. The exact oversubscription multiple is not stated in the source.
Can Malaysians apply for the Jio Platforms IPO?
The source does not confirm whether Malaysian retail investors can apply for this Indian listing. Check with your broker first, and use M+ Global with Invitation Code UBZQ for Malaysian IPO applications.
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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.
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