India's biggest IPO ever: Bitget launches the world's first Jio pre-IPO perpetual futures

Over the past year, the rise of artificial intelligence (AI) has reshaped sectors across global stock markets. Capital is flowing toward new narratives, and India has emerged as one of the world's five largest stock markets by market capitalization.

Jio Platforms' (Jio) initial public offering (IPO) is undoubtedly one of the most closely watched events in India's market this year. Leading Indian media outlets such as the Times of India have described it as the largest IPO in India's history. Jio filed its Red Herring Prospectus (RHP) on October 14, 2026, with an indicative price range of ₹1065–₹1119. The IPO aims to raise around ₹30,213 crore (approximately $3–3.2 billion), valuing the company at around ₹10.3 lakh crore (approximately $10.6–10.8 billion). The public subscription period will run from October 21–23, with listings on the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) expected on October 28.

The world is watching Jio's IPO and what comes next. On Bitget, however, trading has already begun.

Why India, and why Jio?

India is more than just another market. It represents the next major growth frontier. Today, India is one of the world's five largest stock markets, and its digital economy is expanding at an extraordinary pace. It is no longer an emerging opportunity waiting to be discovered, but a market actively reshaping the global capital landscape.

Jio is more than just a telecommunications company. It operates India's largest telecommunications network and serves as a gateway to the digital economy of one of the world's leading economies.

As of June 30, 2026, Jio had approximately 533.3 million users, including around 284.9 million 5G users—the world's largest 5G user base outside China. Its network carries more than 60% of India's wireless data traffic. Average monthly data consumption per user reached 43.7 GB in Q1 of the financial year 2027 (FY27), while average revenue per user (ARPU) rose to approximately ₹215.6. In FY26, Jio Platforms generated ₹146,885 crore (approximately $147 billion) in revenue, representing year-over-year growth of around 14.6%. EBITDA (earnings before interest, taxes, depreciation, and amortization) reached ₹76,255 crore, with a margin of approximately 51.91%, while net profit stood at around ₹30,049 crore.

Jio's business now extends far beyond traditional voice and data services:

• Mobile connectivity: Its 4G and 5G networks cover nearly 99% of India's population. Jio has also developed its own end-to-end 5G technology stack, including the core network, radio equipment, and operations and business support systems (OSS/BSS).

• Home broadband: JioFiber and JioAirFiber had a combined fixed broadband user base of approximately 28.6 million as of June 2026. With a leading share of the Indian market, they have become a gateway to digital services in the home.

• Digital services and AI: Jio operates JioBrain, its proprietary AI and machine learning platform for network automation, predictive analytics, and fault prediction. It partners with companies such as Google to provide AI services to Unlimited 5G subscribers, while also expanding into cloud computing, enterprise private networks, the Internet of Things (IoT), and content and entertainment services, including the integration of JioHotstar.

• Technological moat: Jio has filed more than 7200 patent applications covering 4G, 5G, 6G, cloud-native architecture, and AI network automation, while continuing to invest in 6G research and development.

Simply put, Jio could be behind everything from a phone call or mobile payment to a recommended video or an enterprise AI application. It controls some of the most valuable resources of the AI era: vast networks of real-world connections, data, and use cases. India's digital economy is expected to reach approximately $1.4 trillion by FY31, and Jio has made clear its ambition to capture a significant share of this growth.

Pre-IPO opportunities were once out of reach for most investors

Pre-IPO opportunities have traditionally been reserved for a select few, primarily institutional investors and professional asset managers. Their exclusivity is part of what makes them valuable. There are two barriers: gaining access to information about these opportunities and, more importantly, being able to act on that information.

Bitget is breaking down these barriers, one by one, with 24/7 trading directly in USDT.

On October 14, 2026, Bitget listed JIOUSDT pre-IPO perpetual futures, enabling round-the-clock trading throughout the year, with settlement directly in USDT. The futures offer up to 20x leverage, with funding fees settled every eight hours. There is no need to navigate complex cross-border account-opening procedures. Traders can enter the market whenever they choose.

Jio's IPO is set to become the largest in India's history, aiming to raise approximately ₹30,213 crore at a valuation of around ₹10.3 lakh crore. Global investors are closely watching its price discovery and volatility before and after the listing. Through traditional channels, retail investors have limited opportunities to take positions ahead of the IPO. Bitget's JIOUSDT pre-IPO perpetual futures make these trading opportunities more accessible.

Early trading opportunities with JIOUSDT pre-IPO perpetual futures

1. Pre-listing price discovery and trading on market expectations: Since their launch on October 14, 2026, the perpetual futures have traded around the clock, with prices fluctuating around 11.9 USDT. Traders can take positions based on market expectations for Jio's valuation and capitalize on event-driven price movements related to the prospectus release, subscription demand, and the gray market premium (GMP).

2. Two-way trading opportunities and flexible hedging: The perpetual futures support both long positions (for traders anticipating strong post-listing performance or a valuation re-rating) and short positions (for those seeking to hedge against potential price corrections). With leverage of up to 20x, they accommodate trading strategies with different risk profiles.

3. Lower barriers to entry and efficient market access: The perpetual futures are settled directly in USDT, eliminating the need for an Indian brokerage account or complex cross-border account-opening procedures. Other assets in the account, such as Bitcoin and U.S. stock tokens, can also be used as margin, improving capital efficiency.

4. Flexible exposure to India's long-term digital growth: If Jio successfully completes its listing and continues to capitalize on growth drivers such as 5G adoption, broadband expansion, and AI monetization, movements in its share price could continue to create trading opportunities in the futures market. As the first global exchange to list pre-IPO perpetual futures linked to an Indian company, Bitget is also paving the way for broader access to emerging-market assets.

As a universal exchange (UEX), Bitget provides access not only to a wide range of assets, but also to markets around the world. Jio is not an isolated example, but a reflection of Bitget's broader vision of connecting global markets.

Risk warning: Jio pre-IPO perpetual futures are not Jio shares and do not confer equity ownership, voting rights, dividend entitlements, or eligibility to subscribe to the IPO. Leveraged trading involves significant risk and may result in the loss of your entire principal. Carefully assess your risk tolerance before trading.