Global technology giants Meta Platforms and Alphabet's Google are retaining their entire equity stakes in Jio Platforms, holding nearly Rs 1 lakh crore in combined unrealised gains as the telecommunications leader prepares India's largest initial public offering. Meta's Jaadhu Holdings and Google International will not sell any shares in the planned Rs 30,200 crore public offering, which consists exclusively of 27 crore fresh equity shares. The primary issuance structure enables both cornerstone technology partners to maintain direct strategic exposure while establishing a public market benchmark for their investments. Both technology conglomerates secured their initial allocations at Rs 488.34 per share during Reliance Industries' landmark mid-2020 capital raising exercise. With the upper price band established at Rs 1,119 per share, the valuation delivers an appreciation of Rs 630.66 per share, representing a return of approximately 129 percent over initial allotment costs.
Retail applicants can apply in lots of 12 equity shares, requiring a minimum investment of ₹13,428 at the upper price band of ₹1,119 per share, with an additional quota reserved for eligible Reliance Industries shareholders.
Meta holds 89.23 crore equity shares in Jio Platforms following an initial capital outlay calculated at Rs 43,573 crore. At the issue's top band price of Rs 1,119, Meta's equity position reaches an aggregate valuation of Rs 99,846 crore, generating an unrealised paper profit of Rs 56,272 crore. Google holds 69.09 crore shares in the platform enterprise, representing an original investment allocation of Rs 33,737 crore. At the public offering price, Google's holding is valued at Rs 77,307 crore, delivering an estimated mark-to-market gain of approximately Rs 43,569 crore. Combined, both companies committed Rs 77,310 crore in 2020, with their combined holdings now valued at nearly Rs 1.77 lakh crore, producing an unrealised profit of Rs 99,841 crore.
A secondary group of institutional investors who participated in the 2020 funding campaign were allotted shares at Rs 549.31 each. This investor cohort includes Saudi Arabia's Public Investment Fund, KKR, Vista Equity Partners, Silver Lake Management, Mubadala Investment Company, General Atlantic, and the Abu Dhabi Investment Authority. At the Rs 1,119 issue price, these global institutional funds secure an unrealised profit of Rs 569.69 per share, reflecting a gain of approximately 104 percent. Collectively, institutional backers who entered at the Rs 549.31 price point hold unrealised mark-to-market profits of approximately Rs 67,133 crore.
Jio Platforms' initial public offering is scheduled to open for bidding on October 21, 2026, and will close on October 23, 2026. Share allotment is expected to be finalised on October 26, with trading debut tentatively scheduled on the NSE and BSE on October 28. At Rs 1,119 per share, Jio Platforms commands a market valuation of Rs 10.3 lakh crore, raising Rs 30,213 crore to surpass Hyundai Motor India's 2024 record as the nation's largest offering. Company filings confirm that Rs 27,500 crore of the total proceeds is earmarked for debt prepayment or repayment, with the remaining capital allocated to general corporate operations. Reliance Industries maintains 66.43 percent ownership in Jio Platforms, while Meta holds 9.98 percent and Google holds 7.73 percent ahead of the public issuance.
Reliance Industries shareholders as of the record date of October 14, 2026, are eligible for a reservation quota of up to ₹2,500 crore in the Jio Platforms IPO.
