Reliance Jio Platforms mulls partial IPO

Reliance Jio Platforms is reportedly considering a public listing of around 2.5% of shares on the Indian stock exchange,  move that could raise roughly US$4 billion and potentially mark India’s largest-ever IPO.

Sources cited by Reuters said Jio Platforms, the parent company, is looking to float just 2.5% of the business, despite India’s market regulator pressing large corporates to raise the minimum public shareholding to 5%, a proposal currently under review by the finance ministry.

According to Jefferies, Jio Platforms was valued at approximately US$180 billion as of November, implying that a 2.5% stake sale could be worth around US$4.5 billion. That would eclipse Hyundai Motor India’s record US$3.3 billion IPO in 2024. Reliance Jio Platforms is understood to derive between 75% and 80% of its annual revenues from its telecoms arm, Reliance Jio Infocomm, which has half a billion subscribers. 

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