Reliance Jio IPO Draft to Be Filed with SEB I

Reliance Industries Limited is gearing up to launch the IPO of its digital and telecom arm, Jio Platforms, with plans to submit draft papers to SEBI next month. The company had initially aimed to file by the end of March, but delayed the process due to global market volatility triggered by geopolitical tensions in West Asia. With stability expected to improve, the company is now moving ahead with its IPO plans.

Jio Platforms has appointed 17 merchant bankers, including global giants like Goldman Sachs, Morgan Stanley, Citigroup and JP Morgan, to manage the issue. The company is likely to sell up to 2.5 percent stake and is targeting a valuation of around 170 billion dollars. Through this IPO, Jio is expected to raise nearly 40,000 crore rupees, which could make it the largest IPO in the history of Indian capital markets.