New Delhi: Jio Platforms is set to begin investor outreach later this week for its mega initial public offering, which is expected to raise around USD 3.8 billion and could become India’s biggest IPO.
The digital services arm of Reliance Industries received approval from the Securities and Exchange Board of India last month. Sebi issued its final observations on August 28 after Jio Platforms filed draft IPO papers in June.
Global investor meetings planned
Jio Platforms plans to meet investors across major global financial centres, including the US, Hong Kong, Singapore and the UK, according to sources.
The outreach is expected to begin by the end of this week as the company moves closer to launching the public issue.
Under its draft prospectus, Jio Platforms proposes to issue up to 27 crore fresh equity shares, representing about 2.9% of its post-issue equity base. The IPO could value the company at around USD 137 billion.
Where will Jio use IPO proceeds?
A major portion of the proceeds will be used to repay or prepay around ₹27,500 crore of outstanding borrowings of Reliance Jio Infocomm, its key telecom subsidiary. The remaining amount will be used for general corporate purposes.
Jio Platforms houses Reliance’s telecom and other digital businesses spanning cloud, artificial intelligence and enterprise network services.
Reliance Jio Infocomm has 506 million mobile customers and a 39.29% market share in mobile connections. It also serves 157.9 million fixed-line customers.
Jio Platforms financial performance
Jio Platforms reported a 15% increase in profit after tax to ₹30,053 crore in FY26. Annual revenue increased 14.5% to ₹1,46,885 crore.
Reliance Industries owns about 66.4% of Jio Platforms, while Meta and Google together hold around 17.7%.
The listing would mark Reliance Group’s first IPO since 2008 and its first public offering of a consumer-focused business. Jio Platforms is chaired by Mukesh Ambani, while Akash Ambani serves as managing director.
