Jio Platforms, India’s largest telecom operator and digital services provider, has secured regulatory approval to move forward with its initial public offering, setting the stage for what could be the country’s biggest-ever share sale, according to its IPO papers.
The company is estimated to raise around 377 billion rupees ($3.9 billion), based on data from market intelligence firm Prime Database. That would top the $3.3 billion raised by Hyundai Motors’ Indian arm in 2024, which currently holds the record for the largest IPO in India.
Ownership structure
Mukesh Ambani’s flagship conglomerate Reliance Industries owns more than 66% of Jio Platforms. Meta Platforms, through its affiliate Jaadhu Holdings, holds nearly 10%, while Google International owns 7.7%, according to LSEG data. Neither Meta nor Google will be selling shares in the IPO, the company’s filing shows.
IPO details
The IPO will involve the issuance of up to 270 million new shares, with proceeds earmarked to reduce the debt of its subsidiary Reliance Jio Infocomm, India’s largest wireless carrier.
The approval arrives at a time when India’s IPO market is gearing up for a busy pipeline. According to Prime Database, companies have lined up $50 billion worth of offerings this year, including the much-anticipated listing of the National Stock Exchange. That deal, however, faces a potential delay after the Securities and Exchange Board of India sought clarifications on the exchange’s draft prospectus. The NSE IPO is expected to raise roughly 300 billion rupees ($3.1 billion).
Market conditions are improving, said Abhinav Bharti, head of India equity capital markets at J.P. Morgan, speaking to CNBC’s “Inside India” earlier this month. He pointed to lower volatility and a more stable macroeconomic backdrop as factors supporting a stronger second half of 2026 for listings.
Source: www.cnbc.com — https://www.cnbc.com/2026/08/31/jio-ipo-nse-india-shares-meta-google.html
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