11 (I)- + IO3- + 6 H+ → 6 (I2)- + 3 H2O
This is an oxidation-reduction (redox) reaction:
11 I-I - 11/2 e- → 11 I-1/2 (oxidation)
IV + 11/2 e- → I-1/2 (reduction)
I- is a reducing agent, IO3- is an oxidizing agent (synproportionation (comproportionation)).