2 hrs ago

Jio Platforms IPO Plans Point to Record-Breaking Indian Share Sale

Jio Platforms is preparing to sell shares to the public.

Reports say it may raise Rs 37,000-38,000 crore, but the company has not decided the final size or price.

If it goes ahead as expected, this would be India’s biggest IPO.

The shares being sold are new shares, so the money will go to the company.

Jio Platforms expects to use much of the money to help pay down loans at its telecom subsidiary.

It will use the rest for general company needs.

The company has spoken with investors and says interest has been strong.

It is also watching market conditions before making final decisions.

Key facts

Tentative fundraising: Rs 37,000-38,000 crore, according to an Economic Times report; the final amount remains undecided.
Proposed issue structure: Entirely fresh shares.
Potential debt repayment: About Rs 27,500 crore of Reliance Jio Infocomm borrowings could be repaid or prepaid, fully or partly.
Proposed investor allocation: 50% for retail and high-net-worth individual investors and 50% for institutional investors.
Retail allocation detail: Within the retail and HNI bucket, 35% is meant for retail investors applying for shares worth up to Rs 2 lakh.
Regulatory progress: Draft papers were filed with SEBI in June; SEBI gave its final observations on August 28.
Reliance Jio Infocomm customers: 524.4 million as of March 31.

businesstoday.in · 10 hrs ago