4 days ago

SEBI Clears Jio Platforms IPO, Setting Up India’s Largest Listing

Jio Platforms IPO: SEBI clears DRHP; here's all you need to know · livemint.com

India’s market regulator has taken an important step toward allowing Jio Platforms to sell shares to the public.

The regulator, SEBI, reviewed the company’s draft IPO documents and issued an observation letter.

Jio Platforms may try to list its shares within the next couple of months.

The company is reportedly seeking about ₹35,000 crore, which could make this India’s biggest IPO.

All the proposed shares would be newly issued by the company, rather than sold by existing shareholders.

Jio Platforms plans to use much of the money to repay loans held by Reliance Jio Infocomm.

The remaining funds would be used for general business needs.

The company’s profit and revenue both increased compared with the same quarter last year.

However, its profit was lower than in the previous quarter because finance and depreciation costs rose.

Key facts

Proposed issue size: Around ₹35,000 crore, or approximately $4 billion.
Issue structure: A fresh issue of 270 million equity shares with a face value of ₹10 each; no offer-for-sale component.
Potential ranking: It could become India’s largest IPO, depending on the final issue size and valuation.
Planned debt repayment: Up to ₹27,500 crore may be used to prepay borrowings of Reliance Jio Infocomm Ltd.
Reported valuation: Morgan Stanley and Citi Research valued Jio Platforms at about $133 billion.
Q1FY27 net profit: ₹7,764 crore, up 9.2% year over year but down 2.15% sequentially.
Q1FY27 operating revenue: ₹39,173 crore, up 11.8% year over year.

livemint.com · 4 days ago