Mumbai, August 31, 2026: Jio Platforms has received final approval from the Securities and Exchange Board of India (SEBI) to proceed with its proposed initial public offering (IPO), setting the stage for what could become India’s largest-ever stock market listing.
The company received SEBI’s observation letter on August 28, clearing the way for it to move ahead with the proposed ₹37,700 crore IPO. Jio Platforms had filed its Draft Red Herring Prospectus (DRHP) in June, followed by confirmation of the regulatory approval.
Under the proposed issue, Jio Platforms plans to issue up to 270 million fresh equity shares with a face value of ₹10 each. The offering would represent around 2.93% dilution of the company’s post-issue equity base.
If the IPO goes ahead at the proposed size, it would surpass Hyundai Motor India’s ₹27,859 crore issue in 2024, making it the largest IPO in India by issue size.
Majority of IPO Proceeds to Go Towards Debt Reduction
A significant portion of the funds raised through the IPO is expected to be used to reduce debt at Reliance Jio Infocomm, the telecom subsidiary of Jio Platforms.
Around ₹27,500 crore has been earmarked for the repayment or prepayment of outstanding borrowings. The remaining proceeds are expected to be used for general corporate purposes.
The IPO will consist entirely of a fresh issue, with no offer for sale. This means existing shareholders, including Reliance Industries, Meta and Google, will not be selling their holdings as part of the offering.
IPO Details Yet to Be Announced
Kotak Mahindra Capital Company is serving as the lead manager for the proposed transaction. SEBI’s approval will remain valid for 12 months, giving Jio Platforms time to complete the remaining regulatory and procedural requirements and file updated offer documents.
The company has not yet announced the IPO’s price band, subscription dates, lot size or proposed listing date.
The planned public listing comes as demand continues to grow across areas such as telecom, cloud computing, data centres and artificial intelligence infrastructure, putting Jio Platforms at the centre of India’s expanding digital economy.
