Jio Platforms, which owns India's largest carrier and counts Meta and Google as investors, gets regulatory approval to float India's largest-ever IPO of ~$4B (Vallari Sanzgiri/The Hindu BusinessLine)

Jio Platforms, the digital arm of Reliance Industries, has received regulatory approval from the Securities and Exchange Board of India (Sebi) for its initial public offering (IPO). The IPO is expected to raise around $3.8 billion to $4 billion, making it potentially India's largest-ever stock market listing. According to YourStory, the IPO could value Jio Platforms at about $137 billion.

The offering will comprise a fresh issue of 27 crore equity shares, equivalent to about 2.9% of Jio Platforms' post-issue equity base, with no offer-for-sale component. This means that existing investors, including Meta, Google, and Silver Lake, will not be selling any stock. The Times of India reports that the IPO will allow Jio to move to the final stages of the listing process, including setting a price band and announcing subscription dates.

The proceeds from the IPO will be largely used for debt repayment, with Reliance Industries stating that Jio has a consolidated net profit of ₹30,064 crore and revenue of ₹1.49 lakh crore in FY26. Analysts, such as Kranthi Bathini of WealthMills Securities, are optimistic about the IPO's prospects, citing Jio's strong cash flows and potential for future growth.

Brief written by urgent.news from Techmeme, YourStory, Times of India, Hindu BusinessLine — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.