Jio Platforms gets Sebi nod for $3.8bn IPO, potentially India’s biggest listing
Jio Platforms secured Sebi approval for its substantial $3.8 billion initial public offering. This significant approval paves the way for India's potentially largest stock market listing. The company plans to offer new shares, raising approximately $4 billion for its operations. Proceeds will primarily be used to reduce debt at its telecom unit, Reliance Jio Infocomm. This listing occurs amidst a…
Jio Platforms, the digital services arm of Reliance Industries, has secured Sebi's approval for its $3.8 billion initial public offering, potentially making it India's largest listing. Market regulator Sebi granted approval on Friday, enabling further IPO preparations. Jio Platforms submitted its draft IPO papers to Sebi in June, targeting a $4 billion or roughly Rs 37,700 crore public offering.
The draft prospectus indicates that the company intends to offer up to 27 crore fresh equity shares, accounting for approximately 2.9% of its total equity base post-issue. Jio Platforms aims to use the majority of IPO funds to reduce debt at its telecom subsidiary, Reliance Jio Infocomm, with around Rs 275 billion ($3.3 billion) earmarked for debt repayment.
The company currently boasts 524.4 million subscribers, positioning it as the world's largest mobile operator in India, surpassing China Mobile. Despite a 21% workforce reduction to 27,935 employees between March 31, Jio Platforms' revenue and subscriber numbers continued to rise. India's primary market is experiencing a resurgence, with over two dozen IPOs launched or announced since July 1, nearly matching the 28 recorded in the first half of 2026.
The proposed listing for Jio Platforms would be a significant milestone, potentially surpassing previous public offerings to become the largest IPO in India's history.
Written by urgent.news from Times of India's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Jio Platforms gets SEBI nod to launch IPO thehindubusinessline.com
- Sebi gives green light to Jio Platforms IPO, six other public offers business-standard.com
