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Jio Platforms IPO Gets Sebi Nod for India’s Largest Debut

By Business DeskJio Platforms IPO Gets Sebi Nod for India’s Largest Debut

Jio Platforms secures Sebi approval for its IPO, aiming to raise over Rs 37,700 crore, potentially becoming India’s largest stock market debut.

Jio Platforms just got the green light from Sebi for its IPO, targeting over Rs 37,700 crore. This move positions it to become India’s largest stock market debut ever.

IPO Snapshot

  • Target Raise: Up to $4 billion (over Rs 37,700 crore)
  • Issue Type: Pure primary issue
  • Shares Offered: 27 crore shares
  • Equity Dilution: 2.9%
  • Net Debt (as of March 31, 2026): Rs 27,579 crore

This offering is set to eclipse Hyundai Motor India’s $3.3 billion IPO in 2024 and the proposed Rs 30,000 crore float by NSE. Sebi issued its “observation letter,” meaning no outstanding queries remain.

All proceeds will go directly to Jio Platforms. Funds are earmarked for debt retirement and general corporate purposes, with the company needing to launch its offering within 12 months.

Key Investors

  • Reliance Industries: 66.43%
  • Meta Platforms: 9.98%
  • Google International: 7.73%
  • Saudi Arabia’s Public Investment Fund: 2.31%
  • KKR: 2.31%
  • Vista Equity Partners: 2.31%

This marks Reliance Industries’ first public offering since Reliance Petroleum’s 2006 listing. The substantial raise will address existing debt and fuel future corporate endeavors.

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