MUMBAI: Jio Platforms has formally commenced the process for its proposed initial public offering (IPO) after its board approved the filing of a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), according to regulatory filings and media reports.
The proposed IPO will comprise a fresh issue of up to 27 crore equity shares with a face value of ₹10 each. The offer price will be determined through the book-building process and will be subject to regulatory approvals.
The announcement was made during Reliance Industries’ 49th annual general meeting, where the company said the DRHP would be filed with SEBI, the BSE and the National Stock Exchange.
The filing marks the beginning of the long-awaited listing process for Jio Platforms, one of India’s largest telecom and digital services companies. Since its launch in 2016, the company has expanded its presence across mobile telecommunications, broadband, enterprise solutions and digital services.
The development comes amid renewed activity in India’s primary market. It follows the recent filing of draft papers by the National Stock Exchange for its proposed public issue, potentially paving the way for two of the country’s most closely watched listings.
Details regarding the valuation, final issue size and listing timeline are expected to emerge after SEBI reviews the draft prospectus and grants the necessary approvals.
The proposed public issue remains subject to regulatory clearances and market conditions.
