23 hrs ago
Jio Platforms Moves Closer to $3.8 Billion IPO After Roadshows
Jio Platforms is getting ready to sell some of its shares to the public.
This type of sale is called an initial public offering, or IPO.
The IPO could raise about $3.8 billion and might become India's largest public offering.
Company leaders met investors in several countries to explain the plan.
Akash Ambani and Isha Ambani led many of these meetings.
India's market regulator has issued observations allowing the company to continue preparing the offering.
Jio plans to use most of the money to repay loans held by Reliance Jio Infocomm.
The company has not yet announced the final IPO date or price band.
Jio Platforms has completed global investor roadshows and is preparing its red herring prospectus.
The proposed IPO is estimated at $3.8 billion and could value the company at about $137 billion.
Roadshows took place in the United States, United Kingdom, Dubai, Singapore and Hong Kong.
The Securities and Exchange Board of India issued final observations on August 28 after receiving Jio's draft papers in June.
Jio plans to issue up to 27 crore shares, mainly to repay about ₹27,500 crore of Reliance Jio Infocomm borrowings.
- Who
- Jio Platforms, the digital services arm of Reliance Industries, with roadshows led by Akash Ambani and Isha Ambani.
- What
- The company is preparing an estimated $3.8-billion initial public offering and its red herring prospectus.
- Where
- Investor roadshows were held in the United States, United Kingdom, Dubai, Singapore and Hong Kong.
- When
- Jio completed the first roadshow phase after receiving final regulatory observations on August 28; it filed draft IPO papers in June. A launch date has not been officially announced, although market expectations point to October–December 2026.
- Why
- The IPO proceeds will primarily repay or prepay about ₹27,500 crore in borrowings of Reliance Jio Infocomm, with the remainder used for general corporate purposes.
Key facts
- Estimated IPO size
- USD 3.8 billion
- Potential valuation
- About USD 137 billion
- Fresh shares planned
- Up to 27 crore, representing about 2.9% of post-issue equity
- Planned debt repayment
- About ₹27,500 crore of Reliance Jio Infocomm borrowings
- Regulatory milestone
- The Securities and Exchange Board of India issued final observations on August 28
- Possible launch window
- Not officially announced; market expectations cited October–December 2026
- Shareholder reservation
- A reservation category for existing Reliance Industries shareholders was mentioned, but the percentage has not been disclosed
- FY26 performance
- Profit after tax rose 15% to ₹30,053 crore and annual revenue increased 14.5% to ₹1,46,885 crore
Quotes
Source aware of the development
An unnamed source familiar with Jio Platforms’ IPO preparations
“Jio Platforms has completed the first leg of the IPO after roadshows with potential investors globally. The roadshows were held in the US, UK, Dubai, Singapore and Hong Kong. Now, the company has started preparations for filing a red herring prospectus”
thehansindia.com
Sources
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