Two of India's three biggest IPOs ever are from 2026. What makes Jio's different?
Jio Platforms wants to raise up to ₹30,213 crore when bidding opens on 21 October, which would top Hyundai India's ₹27,870-crore record. NSE's ₹22,569-crore issue in September already sits third, and unlike Hyundai's, every rupee Jio raises goes to the company itself.
- An IPO is when a company first sells its shares to the public.
- Jio Platforms plans to raise up to ₹30,213 crore, with bids from 21 to 23 October 1,2. That would beat Hyundai India's ₹27,870 crore (2024), the record so far 1.
- NSE, the stock exchange, raised ₹22,569 crore in September, now third 3,4. LIC (₹21,000 crore, 2022) slips to fourth 4.
- Hyundai's money went to its parent company, which sold shares. Jio is selling only new shares, so the money goes to Jio 4,5.
A new top three, in one year
Until this year, India's biggest IPO was Hyundai Motor India's ₹27,870 crore in 2024 1. Then NSE, the National Stock Exchange, sold ₹22,569 crore of shares in September 2026 3. Now Jio Platforms has filed its RHP, the final offer document, for an issue of up to ₹30,213 crore 1,2.
| IPO | ₹ crore |
|---|---|
| Jio Platforms (2026, planned) | 30,213 |
| Hyundai Motor India (2024) | 27,870 |
| NSE (2026) | 22,569 |
| LIC (2022) | 21,000 |
| Paytm (2021) | 18,300 |
Jio's figure is at the top of its price band (₹1,119 a share).
Source: Kotak Neo ranking 4, Business Today 1, Telangana Today 3
Even the lowest price breaks the record
Jio's price band is ₹1,065 to ₹1,119 a share, for 27 crore shares 1. At the bottom of the band, the issue is ₹28,755 crore. That is still about ₹885 crore more than Hyundai's record (our maths). One lot is 12 shares, so the smallest bid costs ₹12,780 to ₹13,428 1.
Source: Business Today 1
The twist: where the money goes
Hyundai's IPO was entirely an offer for sale: its parent company sold existing shares and kept the money 4. Jio's is entirely a fresh issue: new shares, so the money goes to Jio Platforms itself 4,5. Same word, very different deal.
Why it matters
- For first-time investors: "biggest" describes the size of the sale, not whether a share is a good buy.
- For anyone reading IPO news: check whether the money goes to the company (fresh issue) or to existing owners (offer for sale).
- For the market: two of the three largest issues landing in one year shows how big the companies coming to the public now are.
Send them this first: the size, the dates, the lot cost, and where the money goes. Not advice, just the numbers.
Sources
- Business Today, Jio Platforms IPO: Price band announced at Rs 1,065–1,119; issue size at Rs 30,213 crore, 14 Oct 2026
- Business Standard, Jio Platforms set to bring India's biggest IPO on Oct 21, seeks ₹30,213 cr, 14 Oct 2026
- Telangana Today, NSE's Rs 22,569 cr IPO begins, 17 Sep 2026
- Kotak Neo, India's biggest IPOs ranked by issue size, Oct 2026
- 5paisa, Jio Platforms IPO date, price band and key details, 15 Oct 2026
How we did this. Every number links to its source. Where sources disagree, we leave the number out and say so. When we work out a number ourselves, we say "our maths". This is general information, not investment advice. We do not recommend buying or skipping any IPO. Read the offer document (RHP) and speak to a registered adviser before investing.