Mumbai, August 30: Jio Platforms, the digital-services arm of Reliance Industries, has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its proposed initial public offering, potentially setting the stage for India’s largest-ever IPO.
The proposed issue is expected to raise around $3.8 billion, or approximately ₹37,700 crore. Jio Platforms plans to issue up to 27 crore fresh equity shares, representing about 2.9% of its post-issue equity base.
If launched at the proposed size, the IPO would surpass Hyundai Motor India’s ₹27,859-crore issue, currently the largest IPO in India’s primary market.
The public offering is expected to attract significant interest from domestic and global investors because of Jio’s position across telecommunications, digital services and technology. Reliance Industries has also received shareholder approval for large-scale transactions involving its digital subsidiaries over the next five years.
The timing is particularly significant because India’s IPO market is already experiencing strong activity. Market participants are expecting September to be one of the busiest months of the year, with potentially ₹70,000 crore worth of IPO fundraising if major offerings including Jio and NSE come to market.
Why it matters:
Jio’s IPO could become a landmark event for India’s capital markets and give public-market investors direct exposure to one of the country’s largest digital businesses.