Jio Platforms Receives SEBI Approval for IPO
Reliance Industries' digital and telecom arm, Jio Platforms, has secured approval from India's Securities and Exchange Board of India (SEBI) for its planned initial public offering (IPO).
Jio Platforms, the digital and telecom services subsidiary of Reliance Industries Ltd (RIL), has moved closer to its stock market debut after receiving approval from India's Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO).
The markets regulator issued its observations on Jio Platforms' IPO papers during the week ended August 28, signaling that the company can now proceed with its public issue. Jio Platforms had filed its Draft Red Herring Prospectus (DRHP) in June.
The company is reportedly seeking to raise approximately $3.8 billion through the IPO. The net proceeds are intended to be used for repaying or prepaying certain borrowings of its material subsidiary, Reliance Jio Infocomm, with the remainder allocated for general corporate purposes, including strategic initiatives and growth opportunities.
Jio Platforms is India's largest telecom operator, boasting over 524 million subscribers as of March 2026. For the first quarter, the company reported a consolidated profit of ₹7,764 crore, an increase of 9.2% year-on-year. RIL holds a 66.43% stake in Jio Platforms.