Jio Platforms bucks a long-running IPO trend

Jio Platforms is set to launch what could be India's largest IPO at around Rs 35,000 crore, with a Rs 27,500 crore fresh issue aimed at prepaying Reliance Jio Infocomm borrowings, marking a sharp departure from the OFS-heavy pattern that has dominated Indian primary markets for over a decade. If priced as proposed, the issue could reduce OFS share of total 2026 IPO fundraising to about 48%, the first time OFS would be a minority in years, though experts caution this is a one-off rather than a structural shift.