Mumbai: The proposed ₹36,000 crore offering is expected to be the largest initial public offering (IPO) in India’s history, valuing the company at around ₹12.5 lakh crore.

Jio Platforms, the digital arm of Reliance Industries Limited (RIL), filed its IPO papers on Friday, setting the stage for a landmark stock market debut. According to market estimates, the company plans to issue 27 crore new shares, with the entire fundraising expected to come through fresh equity issuance rather than an offer for sale.

The IPO proceeds will primarily be used to reduce Jio’s debt of approximately ₹27,500 crore, while the remaining funds will support general corporate purposes. Some shares are also expected to be reserved for existing Reliance shareholders.

The filing comes at a time when global market sentiment remains cautious due to geopolitical tensions involving the United States, Israel and Iran, which have contributed to volatility in capital markets. Despite these challenges, Jio’s listing is expected to be one of the most closely watched market events of the year.

Reliance Chairman and Managing Director Mukesh Ambani described the filing as “a deeply emotional moment” for the Reliance family and its millions of shareholders. Speaking at Reliance Industries’ annual general meeting, Ambani said that his children, Akash Ambani, Isha Ambani and Anant Ambani, are leading the IPO process and will oversee the company’s next phase of growth and value creation.

Reliance currently holds just over 66 per cent of Jio Platforms. In 2020, the company attracted major global investors including Meta, Google, KKR, Vista Equity Partners, General Atlantic, Silver Lake and the Abu Dhabi Investment Authority, raising significant capital through stake sales.

For FY26, Jio Platforms reported revenue of ₹1.47 lakh crore and a profit after tax of ₹30,000 crore, underlining its strong financial performance ahead of its highly anticipated public listing.