Mukesh Ambani-led India’s largest telecom company—Reliance Jio Platforms—is preparing to file its draft red herring prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) for its initial public offering (IPO) in the next few days. According to reports, the digital unit of Reliance Industries is expected to file DRHP by March 31, 2026.
India’s biggest IPO so far
It is being told that this will be India’s largest IPO till date, with an estimated size of more than ₹35,000 crore (about $4 billion). The public issue will primarily be an ‘offer-for-sale’ (OFS), in which existing foreign investors—such as Google and Meta—can sell stakes ranging from 2.5% to 8%. The company aims to be listed on the stock exchange during the first half of 2026.
New updates related to IPO
Last week, Reliance Jio Platforms appointed 17 to 19 leading investment banks to manage its mega IPO. These include Goldman Sachs, Morgan Stanley and Kotak Mahindra Capital. According to brokerage firms, the valuation of Jio Platforms falls in the range of $150 billion to $180 billion. Meanwhile, SEBI has also recently eased the minimum public shareholding norms for large-cap companies. Companies with valuations above ₹1 lakh crore are now allowed to sell 2% stake during their IPOs—whereas earlier the requirement was 5%.
