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Jio Platforms planned Indian IPO

Updated 2 times since CLSTR started tracking revisions of this situation.

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2026-09-08 06:15 UTC → 2026-09-08 19:15 UTC · added removed

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. Additionally, RIL In conjunction with the IPO preparations, Reliance Industries is reportedly planning to launch a local-currency ₹12,500-crore five-year bond sale issue in the domestic debt market as early as next week. The proposed issuance is expected to have a base size of approximately Rs 12,500 ₹10,000 crore ($1.3 billion) consisting of five-year notes with a 7.47 per cent coupon. ₹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 for investments in digital services and next-generation networks. sheet. Reliance Industries will maintain a controlling stake of approximately 66%. Other major shareholders include Meta Platforms (nearly 10%) and Google (approximately 7.7%), alongside investors such as KKR and Saudi Arabia’s Public Investment Fund. Post-issue valuations are estimated to range between $100 billion and $137 billion.

Versions

  1. 2026-09-08 19:15 UTC Jio Platforms planned Indian IPO
  2. 2026-09-08 06:15 UTC Jio Platforms planned Indian IPO
  3. 2026-08-31 04:53 UTC Jio Platforms planned Indian IPO

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