Reliance Jio Platforms Limited has finished a series of global roadshows to gauge investor interest ahead of its Initial Public Offering (IPO), according to a PTI report. The IPO, which will be for Jio Platforms – the parent company of Reliance Jio Infocomm – rather than Jio itself, saw presentations led by Reliance Jio chairman Akash Ambani and Reliance Retail Executive Director Isha Ambani.
Largest IPO in Indian History
The upcoming IPO is planned to raise $3.8 billion, making it the largest IPO in Indian history to date. Jio Platforms intends to issue up to 27 crore shares in the offering, as detailed in the Draft Red Herring Prospectus (DRHP) filed with regulators. The funds raised will be used to pay down approximately Rs 27,500 crore of the company’s existing debt.
Global Investor Interest & Valuation
Roadshows were held in the US, UK, Dubai, Singapore, and Hong Kong to attract potential investors. A successful IPO is also expected to benefit existing shareholders like Meta and Google, though these companies currently have no plans to sell their stakes. Jio is issuing fresh shares to the public.
Upon listing, Jio Platforms’ valuation is projected to fall between $130 billion and $170 billion USD, potentially establishing it as one of the most valuable companies on the market. While a firm launch date has not been announced, the IPO is anticipated to occur during the first week of November, coinciding with the start of the festive season.
