Jio Platforms narrows IPO advisers to Morgan Stanley and Goldman Sachs

Jio Platforms has reportedly shortlisted Morgan Stanley and Goldman Sachs to steer its long-awaited initial public offering, as preparations gather pace for what is expected to be one of India’s biggest listings.

Sources cited by The Economic Times said Jio is ready to draft its red herring prospectus once the Securities and Exchange Board of India receives the green light from the finance ministry to proceed with a flotation of around 2.5% of the company’s shares. The offering is expected to combine a primary issuance with secondary share sales.

Private equity backers including KKR, TPG, Silver Lake and Vista Partners are understood to be lining up partial exits, while strategic investors Google and Meta, which hold 7.75% and 9.99% respectively, are expected to retain their stakes. Intel, which owns around 0.7%, may consider a partial sale, according to analysts quoted by the newspaper.

Reliance Industries chairman Mukesh Ambani flagged plans last year to take Jio Platforms public in the first half of 2026. The IPO is widely tipped to raise around US$4.5 billion, making it one of the most closely watched listings on India’s stock market.

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