[CLSTR]
< Back to situations

Monitor this situation.

[SITUATION] · [ACTIVE] · [BUSINESS]

4 clusters · 23 sources · 12 days · First seen · Last updated

Jio Platforms planned Indian IPO

Overview

The Securities and Exchange Board of India (SEBI) has approved the initial public offering (IPO) for Jio Platforms, the digital services arm of Reliance Industries. The offering aims to raise approximately ₹37,700 crore (roughly $3.8 billion to $3.9 billion) through the issuance of up to 270 million fresh equity shares, representing a 2.9 per cent equity dilution. If successful, the listing would become the largest IPO in Indian history, surpassing the 2024 record set by Hyundai Motor India.

Jio Platforms is preparing to launch marketing for the IPO, with discussions ongoing regarding the offering’s size, valuation, and timing. To support the process, Reliance Industries Ltd (RIL) is expected to hold outreach meetings across several global financial hubs, including the US, Singapore, Hong Kong, London, and the Middle East.

In conjunction with the IPO preparations, Reliance Industries is planning to launch a ₹12,500-crore five-year bond issue in the domestic debt market as early as next week. The proposed issuance is expected to have a base size of ₹10,000 crore with a ₹2,500-crore greenshoe option. Sources indicate a proposed coupon of 7.47%, which is lower than the average yield of approximately 7.87% for similar AAA-rated corporate bonds. If successful, this would represent the largest listed corporate bond issuance in India this year. Major banks, including Axis Bank, HDFC Bank, ICICI Bank, and Yes Bank, are reportedly acting as lead arrangers.

The company intends to use a significant portion of the proceeds to repay or prepay outstanding debt held by its subsidiary, Reliance Jio Infocomm Ltd, to strengthen the group’s balance sheet. Reliance Industries will maintain a controlling stake of approximately 66%. Post-issue valuations are estimated to range between $100 billion and $137 billion.

Entities

Jio Platforms · Reliance Industries · Securities and Exchange Board of India · Mukesh Ambani · Bank of America

Timeline

  1. 4 days ago

    [BUSINESS] 2 sources
    Jio Platforms prepares for IPO marketing and Reliance Industries bond sale

    Jio Platforms is preparing for a potential $4 billion IPO, while parent company Reliance Industries plans a $1.3 billion bond sale to support its financial activities.

  2. 4 days ago

    [BUSINESS] 2 sources
    Reliance Industries plans Rs 12,500-crore bond sale

    Reliance Industries plans a Rs 12,500-crore five-year bond sale, potentially the largest corporate bond issuance in India this year, ahead of a major Jio Platforms IPO.

  3. 12 days ago

    [BUSINESS] 5 sources
    Jio Platforms receives approval for record-breaking Indian IPO

    Jio Platforms has received regulatory approval for an IPO that could become India’s largest ever, aiming to raise approximately $3.9 billion to reduce debt and expand digital services.

  4. 16 days ago

    [BUSINESS] 15 sources
    Jio Platforms receives SEBI approval for $3.8 billion IPO

    Jio Platforms has received SEBI approval for a $3.8 billion IPO, potentially becoming India’s largest-ever stock market listing to help repay subsidiary debt.

Sources

aajsamaaj.com · ad-hoc-news.de · bfsi.eletsonline.com · businessnewsthisweek.com · businesstoday.in · cryptobriefing.com · english.mathrubhumi.com · equitypandit.com · gamedaycole.com · inc42.com · indianbroadcastingworld.com · it-boltwise.de · kannada.asianetnews.com · latestly.com · m.businesstoday.in · newindianexpress.com · news.abplive.com · news18.com · newsable.asianetnews.com · smestreet.in · spacemoney.com.br · tekedia.com · telecomtalk.info

This summary has been updated 2 times: see revision history