Jio Platforms Gets SEBI Nod for ‘₹37,700 cr.’ IPO
The offering will raise about ₹37,700 crore, with ₹27,500 crore earmarked for debt repayment and the rest for corporate uses.
- On Friday, SEBI cleared Jio Platforms Ltd to proceed with its IPO, which is expected to mobilize Rs 37,700 crore, or $4 billion.
- Since its 2016 launch, Jio transformed the Indian telecom sector through aggressive pricing and infrastructure investment, now supporting over 524 million subscribers across India.
- The public offering will consist of a fresh issue of equity shares; Rs 27,500 crore will be utilized to repay debt while not less than 35% of the net issue will be allocated to retail individual investors.
- Surpassing previous landmark issues, the offering exceeds Hyundai's Rs 27,870 crore raise in October 2024 and the Life Insurance Corporation's Rs 21,008 crore issue in 2022.
- Together with Jio, two mega IPOs are projected to raise over Rs 67,000 crore from the market in the coming months as The National Stock Exchange prepares its own public offering.
33 Articles
33 Articles
Jio Platforms gets SEBI nod for ‘₹37,700 cr.’ IPO
Jio Platforms, the holding company of Reliance Industries’ fintech, digital and telecom companies, received the market regulator nod to proceed with the Initial Public Offering (IPO) going by an exchange filing released August 28.
Sebi clears Rs 37,000 crore Jio IPO, set to become India's biggest listing
At the estimated issue size of about Rs 37,700 crore (USD 3.8 billion), the offering would surpass Hyundai Motor India's USD 3.3 billion-equivalent listing in 2024 and become the largest IPO in India.
Jio gets Sebi nod for IPO, set to be India's biggest listing
New Delhi: Jio Platforms Ltd, the digital services arm of billionaire Mukesh Ambani’s Reliance Industries Ltd, has received approval from markets regulator Sebi to proceed with an initial public offering (IPO) that could raise about USD 3.8 billion, paving the way for what would be the country’s largest stock-market listing. The Securities and Exchange Board of India (Sebi) issued its final observations on Friday, August 28, according to an upda…
India's markets regulator approves Jio Platforms' $3.8 billion IPO
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