Jio Platforms IPO: SEBI Clears ₹37,000 Crore Issue, Set to Become India’s Largest-Ever IPO
Jio Platforms has received SEBI’s final observations for its proposed IPO of more than ₹37,000 crore, potentially making it India’s largest-ever public issue.
Jio Platforms IPO: Jio Platforms has received SEBI’s final observations for its proposed IPO of more than ₹37,000 crore, which could make it the largest public issue in India, surpassing Hyundai Motor India’s ₹27,858.75-crore offering.
Jio Platforms IPO: Market regulator Securities and Exchange Board of India (SEBI) has cleared Jio Platforms Ltd’s proposed IPO of more than ₹37,000 crore, setting the stage for what could become India’s largest-ever public issue.
SEBI gave its final observations to Jio Platforms on August 28, nearly two months after the company filed its draft offer documents in June.
At around ₹37,000 crore, the proposed issue would surpass Hyundai Motor India’s ₹27,858.75-crore IPO. The final issue size, however, will depend on the structure and pricing at the time of the launch.
What are the key details of the Jio Platforms IPO?
Jio Platforms has proposed a fresh issue of up to 27 crore equity shares, with no offer-for-sale component. The company plans to use up to ₹27,500 crore of the net IPO proceeds to prepay or repay outstanding borrowings of Reliance Jio Infocomm, with the remaining proceeds earmarked for general corporate purposes.
Who owns Jio Platforms?
Jio Platforms is the holding company for Reliance Industries’ telecom and digital businesses and houses Reliance Jio, India’s largest telecom operator.
Reliance Industries held a 66.43% stake in Jio Platforms before the proposed issue, while Meta Platforms and Google held 9.98% and 7.73%, respectively.
Other major investors include Saudi Arabia’s Public Investment Fund, KKR, Vista Equity Partners, Silver Lake, Mubadala, General Atlantic Singapore, Abu Dhabi Investment Authority and TPG Capital.
READ THIS ALSO: Jio Platforms, Paras Healthcare Among 7 Companies to Get SEBI Nod for IPOs
Why is the Jio Platforms IPO significant?
The IPO marks a major step in Reliance Industries’ plans to unlock value from its digital and telecom business. Jio Platforms had attracted billions of dollars from global investors in 2020, including Meta, Google and several private-equity investors.
With SEBI’s clearance, Jio Platforms can move towards the next stages of the IPO process, including filing the final offer documents, determining the price band and announcing the issue timetable.
Top 10 largest IPOs in the Indian stock market
Here is the list of Top 10 IPOs in the history of Indian Stock Market
|
Rank |
Company |
Opening Year |
Issue Price (₹) |
Issue Amount (₹ cr.) |
|---|---|---|---|---|
|
1 |
Hyundai Motor India Ltd. |
2024 |
1,960 |
27,858.75 |
|
2 |
Life Insurance Corp. of India |
2022 |
949 |
20,557.23 |
|
3 |
One 97 Communications Ltd. |
2021 |
2,150 |
18,300.00 |
|
4 |
Tata Capital Ltd. |
2025 |
326 |
15,511.87 |
|
5 |
Coal India Ltd. |
2010 |
245 |
15,199.44 |
|
6 |
HDB Financial Services Ltd. |
2025 |
740 |
12,500.00 |
|
7 |
LG Electronics India Ltd. |
2025 |
1,140 |
11,604.73 |
|
8 |
Swiggy Ltd. |
2024 |
390 |
11,327.43 |
|
9 |
General Insurance Corp. of India |
2017 |
912 |
11,256.83 |
|
10 |
ICICI Prudential Asset Management Co. Ltd. |
2025 |
2,165 |
10,602.65 |
Jio Platforms’ final issue size, price and opening date have not yet been announced.
Final Words
Jio Platforms’ SEBI clearance puts the company on course for a potential IPO of more than ₹37,000 crore, which would make it India’s largest-ever public issue if launched at the proposed size. The entirely fresh issue includes up to ₹27,500 crore for repayment of Reliance Jio Infocomm’s borrowings. Investors will now watch the final offer documents, pricing and issue timetable as Jio Platforms moves towards the public market.
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