Jio Platforms's IPO: Who are the shareholders
What's the story
Jio Platforms, the digital services subsidiary of Reliance Industries Ltd (RIL), is gearing up for an initial public offering (IPO) that could raise around ₹37,700 crore ($3.8 billion to $4 billion). The IPO is likely to be priced at ₹1,065-1,119 per share and will include up to 27 crore fresh equity shares. Interestingly enough, Reliance Industries doesn't own 100% of Jio Platforms as it has other shareholders like Meta and Google.
Shareholder details
Top 3 shareholders of Jio Platforms
As per the Draft Red Herring Prospectus, Jio Platforms has a total of 105 shareholders.
The top 10 include Reliance Industries with a 66.43% stake, Jaadhu Holdings LLC (an affiliate of Meta) with 9.98%, and Google International LLC owning 7.73%.
Other major shareholders are the Public Investment Fund (Saudi Arabia's sovereign wealth fund) and Omicron Asia Holdings II Pte Ltd. both holding 2.31% each.
Additional investors
Other major shareholders
Other notable shareholders in Jio Platforms include VEPF VII AIV I Ltd. (2.31%), SLP Redwood Holdings Pte. Ltd. (1.88%), MIC Redwood 1 RSC Limited (1.85%), General Atlantic Singapore JP Pte. Ltd. (1.34%), and Platinum Jasmine A 2018 Trust (1.16%).
The diverse shareholder base highlights the global interest in Jio Platforms's digital services business under Mukesh Ambani's leadership at RIL.
Upcoming events
IPO timeline and market debut
Jio Platforms had received SEBI's final observations for its IPO on August 28.
The company is expected to file final papers with SEBI in the week starting today.
The anchor investor round is scheduled for October 19, while subscription will open from October 21-23.
By the end of October, Jio Platforms plans to list on stock exchanges, marking a major milestone in India's digital economy journey.