Jio Platforms, India’s largest telecom operator and digital services company, has received regulatory approval to launch its initial public offering, paving the way for what could become the country’s largest IPO.
Jio Platforms is estimated to raise around 377 billion rupees, or about $3.9 billion, according to Prime Database. If completed at that size, the offering would exceed Hyundai Motor India’s $3.3 billion IPO in 2024.
Mukesh Ambani’s Reliance Industries owns more than 66% of Jio Platforms, while Meta’s affiliate Jaadhu Holdings owns nearly 10% and Google International holds 7.7%, according to LSEG data.
Neither Meta nor Google is expected to sell its stake as part of the IPO. The offering could include up to 270 million shares, with proceeds planned to help reduce the debt of Reliance Jio Infocomm, India’s largest wireless operator.
The development comes as India’s IPO market remains highly active, with around $50 billion worth of share offerings in the pipeline for 2026.
The much-anticipated National Stock Exchange IPO is also expected to raise around 300 billion rupees, although regulatory clarification requests could affect its timeline.
Jio Platforms IPO, Reliance Industries, Mukesh Ambani, Meta and Google-backed Jio, India IPO market and the country’s booming telecom and digital economy remain key areas of investor attention.
