Jio Platforms Reportedly Plans Record-Breaking $6 Billion IPO

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Reliance Industries, the conglomerate led by Chairman Mukesh Ambani, is reportedly preparing for what could be the largest Initial Public Offering (IPO) in India’s history. The company is considering listing its digital arm, Jio Platforms, with a public issue potentially valued at over $6 billion (₹52,200 crore). This planned IPO would significantly surpass the current record, setting a new benchmark for public offerings in the country. The move is viewed as a strategic step to unlock value for shareholders and provide an exit opportunity for early investors.

According to sources familiar with the matter, Reliance has initiated informal discussions with the Securities and Exchange Board of India (SEBI), the nation’s capital markets regulator. The company is reportedly seeking an exemption from the standard rule that mandates a minimum public float of 25%. Instead, Reliance is proposing to list a smaller, 5% stake in Jio Platforms, arguing that the Indian market may not have the capacity to absorb a larger offering without negatively impacting the pricing.

This potential IPO is generating significant market interest, particularly as it would offer a liquidity event for major global investors. Tech giants Meta Platforms (formerly Facebook) and Alphabet Inc.’s Google, which invested over $20 billion in Jio Platforms in 2020 when its valuation was around $58 billion, could be among those looking to sell some of their stake. The timing of the IPO is still under discussion and is expected to be finalized based on market conditions, with some reports suggesting a launch as early as next year.

Jio Platforms has transformed India’s digital landscape since its launch in 2016, rapidly expanding its telecommunications subscriber base to become one of the country’s largest wireless carriers. The company has also diversified into a broad range of digital services, including content, e-commerce, and financial technology. The successful listing of Jio Platforms could serve as a bellwether for the future of India’s tech and telecom sectors, potentially encouraging other major companies to follow suit. All eyes are now on Reliance Industries’ upcoming Annual General Meeting for a possible official announcement regarding the company’s plans.