Mumbai: Dalal Street is bracing for an action-packed week as two major mainboard Initial Public Offerings (IPOs) are set to hit the primary market, aiming to raise a combined total of ₹31,637.6 crore. While the Small and Medium Enterprise (SME) segment will see a quiet period with no new listings, all eyes are firmly fixed on the highly anticipated IPO of billionaire Mukesh Ambani’s technology arm, Jio Platforms (JPL).
Jio Platforms, the parent company of telecom giant Reliance Jio Infocomm, is preparing to launch what is slated to be India’s largest-ever equity public issue. The company plans to raise a staggering ₹30,187.6 crore through the issuance of 27 crore fresh equity shares. This mega-issue will officially surpass Hyundai Motor India’s ₹27,859 crore IPO from 2024, LIC’s ₹20,557 crore offering in 2022, and the National Stock Exchange’s ₹22,563 crore issue earlier in 2026.
According to the official announcement, the public subscription for Jio Platforms will open on October 21 and close on October 23. The price band has been fixed at ₹1,065 to ₹1,119 per share. The company’s anchor book is scheduled to open for a single day on October 19, which is expected to pool in approximately ₹8,000 crore.
Targeting an overall valuation of roughly ₹10.3 lakh crore, JPL has reserved a significant portion of shares for its stakeholders. An allocation of ₹500 crore has been kept aside for eligible employees—who will receive a discount of ₹54 per share on the final offer price—while ₹2,500 crore is reserved for existing Reliance Industries shareholders. Retail investors can bid for a minimum of 12 equity shares, which translates to a minimum investment of ₹13,428 at the upper end of the price band.
During a recent press conference, Jio Platforms Chairman Akash Ambani clarified the capital utilization strategy. “Jio Platforms is moving towards a ‘net-debt-free’ status. The proceeds from this IPO will be primarily used for deleveraging,” he stated. Out of the total net proceeds, ₹27,500 crore will be utilized to clear the existing debt of its core subsidiary, Reliance Jio Infocomm, strengthening its balance sheet for the next phase of digital growth.
Sharing the subscription schedule with Jio is the week’s second mainboard issue: Paras Healthcare. The Gurugram-based hospital chain, founded by Dr Dharminder Kumar Nagar, is aiming to raise ₹1,450 crore. With a price band set at ₹660 to ₹693 per share, the offering includes a fresh issue of ₹500 crore alongside an Offer for Sale (OFS) of ₹650 crore by its promoters and investors.
Market analysts anticipate heavy institutional and retail participation in the coming week, largely driven by the monumental scale of the Jio Platforms listing.