Jio Platforms Limited (JPL) on Friday filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) comprising a fresh issue of 270 million shares, with the price to be determined later through a book-building process.
The issue size is likely to be in the range of Rs 350 to Rs 400 billion, which would make it India’s largest-ever IPO.
The JPL board approved the filing of the DRHP earlier on June 19, 2026. The filing has been made to dilute a 2.5 per cent stake in the company in line with SEBI’s new rules for mega listings. According to the filing, JPL will use Rs 275 billion from the net proceeds of the fresh issue to repay debt held by its material subsidiary, Reliance Jio Infocomm Limited (RJIL). The remaining proceeds will be utilised for general corporate purposes and to cover issue-related expenses.
