Jio Platforms finalizes IPO paperwork after global roadshow tour

Jio Platforms, the digital services arm of Reliance Industries, concluded a series of roadshows across the United States, United Kingdom, Dubai, Singapore and Hong Kong, where Managing Director Akash Ambani and Executive Director Isha Ambani engaged potential investors. The firm is now finalising its public offer documents and will soon file a red-herring prospectus for an IPO estimated at $3.8 billion, which could value the company at about $137 billion.

The issue may comprise up to 27 crore fresh equity shares, roughly 2.9 % of the post-issue equity base. Funds raised will primarily be used to repay or pre-pay about Rs 27,500 crore of outstanding borrowings of Reliance Jio Infocomm Ltd, with any remainder earmarked for general corporate purposes. The IPO follows SEBI’s approval and would be the biggest Indian listing to date, marking Reliance’s first public offering since 2008. Jio’s extensive 5G network and expanding digital ecosystem support its growth outlook.