SEBI approves two mega IPOs, including a potential $4 billion offering from Jio
The Securities and Exchange Board of India has greenlit draft prospectuses for NSE and Jio Platforms. Estimates suggest Jio could raise up to $4 billion, while the proposed National Stock Exchange issue is valued at approximately ₹30,000 crore.
The Securities and Exchange Board of India has issued a final approval for initial public offering draft documents from two massive companies: the National Stock Exchange and Jio Platforms. The regulator cleared these submissions on June 19, ending years of regulatory delays that had stalled the process since 2016 for the exchange.
Estimates place the proposed share offering by the National Stock Exchange at around ₹30,000 crore. If these figures materialize, the exchange's listing would become one of India's largest public offerings ever completed. A separate analysis indicates Jio Platforms is targeting a fundraising size of roughly $4 billion, equivalent to approximately ₹37,800 crore. This potential offering by the telecommunications subsidiary of Reliance Industries could surpass the current record set by Hyundai Motor India, which raised ₹27,858.75 crore.
According to Jio Platforms' draft document, the company plans to issue up to 270 million new equity shares. These shares would represent about 2.9% of its total capital structure after the IPO is completed. The listing for Jio is expected to occur by late October or early November. Both deals aim to become among the biggest public fundraising events in the nation's history.
