Mukesh Ambani's Jio Set For BIGGEST Ever IPO Debut; Google, Meta Among Key Investors | Details

[00:00:00]My dear shareholders, with great delight, let me tell you that the board [music] of Jio Platforms has approved the draft red herring prospectus earlier today, and it will be filed with SEBI today. This is a deeply emotional moment [music] for me, for the entire Reliance family, and for millions of its shareholders.

[00:00:25]>> India [music] could soon be looking at its biggest IPO ever. Jio Platforms, [music] the digital arm of Reliance Industries, has filed its draft papers with market regulator SEBI, setting the stage for what could become the largest public listing in Indian history.

[00:00:42]And if the numbers hold, Jio could even surpass the much-anticipated [music] IPO of the National Stock Exchange.

[00:00:50]According to the draft red herring prospectus, Jio Platforms plans to issue 270 million fresh [music] equity shares.

[00:00:58]Notably, there will be no offer for sale by existing [music] investors.

[00:01:03]The company plans to use up to 27,500 crore rupees [music] from the IPO proceeds to repay borrowings taken by its telecom subsidiary Reliance Jio Infocomm.

[00:01:16]According to people familiar with the matter, Jio may also raise [music] an additional 4,500 to 7,500 crore rupees for general corporate purposes.

[00:01:30]That would take [music] the total IPO size to between 32,000 and 35,000 crore rupees.

[00:01:37]For comparison, the National Stock [music] Exchange recently filed for an IPO estimated at around 30,000 crore rupees.

[00:01:45]Legal experts say the structure of Jio's issue could automatically make it larger than NSE's offering [music] and potentially rewrite the record books for India's biggest ever public debut.

[00:01:55][music] Analysts at Morgan Stanley and City Research have valued Jio Platforms at around $133 billion.

[00:02:03]The company has also posted strong financial numbers.

[00:02:08]For FY26, [music] Jio Platforms reported revenue of 1.47 trillion rupees, up nearly 15% [music] year-on-year. EBITDA rose almost 19% to 76,225 [music] crore rupees. Net profit increased 15% to 30,053 crore [music] rupees.

[00:02:29]Jio is also India's largest telecom operator by subscriber [music] market share. As of March end, its subscriber base stood at 524.4 million users. But Jio today is much more than a telecom company.

[00:02:44]It has expanded into broadband, enterprise services, digital applications, and consumer [music] technology, making it a key pillar of Reliance's broader digital ecosystem strategy.

[00:02:55]Reliance Industries currently owns [music] 66.43% of Jio Platforms.

[00:03:01]Other major investors include Meta, Google, KKR, [music] Vista Equity Partners, Silver Lake, Mubadala, General Atlantic, and the [music] Abu Dhabi Investment Authority.

[00:03:15]The IPO will be managed by a consortium of leading investment banks, including Kotak Mahindra Capital, Morgan Stanley, BofA Securities, Axis Capital, BNP Paribas, Citi, and Goldman Sachs.

[00:03:29]The shares are proposed to be listed on both the NSE [music] and the BSE. For now, the draft papers will undergo SEBI's review process. [music] After regulatory observations, Jio will move to the next stage of its public listing journey.

[00:03:45]And if everything goes according to plan, India may soon witness its largest IPO ever. We will keep tracking this story.

[00:03:52][music] Let us know your thoughts in the comments below and stay tuned for more updates.

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