Jio Platforms to commence investor outreach this week ahead of USD 3.8 billion IPO
Jio Platforms is scheduled to start meetings with global investors after receiving final regulatory approval from Sebi last month. The company intends to raise up to USD 3.8 billion, a major step in its path to becoming India's largest stock-market listing.
Sources indicate Jio Platforms will begin investor outreach later this week. Meetings are planned with investors in the US, Hong Kong, Singapore, and the UK following Sebi approval last month. The company filed draft prospectus papers in June, receiving final observations on August 28. If executed as anticipated, the offering would value the digital services arm at approximately USD 137 billion. Jio plans to issue up to 27 crore fresh equity shares, representing roughly 2.9% of its post-issue equity base. The raised capital will primarily repay or prepay about Rs 27,500 crore in outstanding borrowings held by Reliance Jio Infocomm Ltd, a material subsidiary. Proceeds exceeding the repayment portion are earmarked for general corporate purposes. Unlike other recent anchor rounds where mutual funds dominate participation, the specific composition of Jio's investor book has not been detailed yet.
