Jio Platforms (Reliance Jio) filed its Draft Red Herring Prospectus (DRHP) to raise roughly ₹37,000 to ₹40,000 crore (approx. $4 billion), making it potentially the largest IPO in Indian history. The issue is a 100% fresh issue of up to 27 crore equity shares with no Offer for Sale (OFS) component. [1, 2]
Key IPO Details
-
- Estimated Issue Size: ₹37,000 to ₹40,000 crore
- Structure: 100% Fresh issue
- Issue Type: Mainboard IPO (Listed on BSE and NSE)
- Estimated Valuation: Between $120 billion and $180 billion
- Promoter: Reliance Industries Limited (RIL)
- Registrar: KFin Technologies Limited (tentative) [1, 2, 3]
Objective of the Issue
- Up to ₹27,500 crore will be utilized to prepay or repay borrowings of the telecom arm, Reliance Jio Infocomm Limited (RJIL).
- The remaining proceeds will go toward general corporate purposes, including investments in 5G expansion, AI-driven initiatives, and next-generation cloud and digital services. [1, 2, 3]