Reliance Industries is encouraging its nearly 4.2 lakh employees to participate in Jio Platforms’ upcoming initial public offering (IPO), as the digital services business prepares for a public listing expected to be among India’s largest, according to a Bloomberg report.
The conglomerate reportedly released October salaries around 15 days earlier than usual, giving employees access to funds ahead of the share sale. However, Reliance has not publicly linked the early salary payment to the IPO, nor were employees given a reason for the change.
The company’s outreach has also included checking whether employees and their family members have demat accounts required to apply for shares.
According to people familiar with the matter, employees without such accounts have been encouraged to open them. Reliance had not immediately commented on the report.
Reliance Industries had 4,19,911 employees, making it the second-largest employer among listed Indian companies after Tata Consultancy Services, according to Bloomberg data cited in the report. Of these, 74,822 employees worked at Jio, based on information available on the company’s website.
Jio employees meeting the eligibility criteria can apply under the IPO’s employee reservation category, while employees of other Reliance group companies can participate through the retail investor category. Eligible shareholders of Reliance Industries will also have a separate reservation.
Jio Platforms aims to raise around Rs 30,213 crore through the offering, with a price band of Rs 1,065 to Rs 1,119 per share. According to company filings, shares worth up to Rs 500 crore have been reserved for eligible employees, who will receive a 5 per cent discount on the offer price. A separate portion worth up to Rs 2,500 crore has been reserved for eligible Reliance Industries shareholders.
The IPO is scheduled to open for subscription on 21 October and close on 23 October, 2026. The proposed listing marks a significant step for Reliance’s telecom and digital-services business, with employees and eligible shareholders among the investor groups receiving dedicated access to the offering.
