Jio Platforms to launch $4 billion IPO during festive season
Business
Jio Platforms, the digital and telecom giant from Reliance Industries, is planning a massive $4 billion IPO, possibly India's biggest ever.
The launch is set for the upcoming festive season, either during Navratri (October 11-20) or Diwali (around November 8), with final dates to be announced soon.
SEBI clears 270 million Jio shares
Jio will offer 270 million new shares, making up about 2.9% of its total equity after the IPO.
SEBI gave its approval on August 28, 2026, and there's no offer-for-sale part, so it's all fresh shares.
Most of the money raised will go toward paying off Reliance Jio Infocomm's loans, with Jaadhu Holdings, an affiliate of Meta Platforms, owning 9.98% and Google International holding 7.73% already on board as major shareholders.