Jio Platforms gets Sebi nod for ₹35,000 crore IPO, India’s biggest potential listing

SEBI approved Jio Platforms' about Rs 35,000 crore IPO, which would be India's largest stock listing to date, surpassing Hyundai Motor India and LIC. The issue is entirely a fresh equity sale of 270 million shares at Rs 10 face value, with proceeds of up to Rs 27,500 crore earmarked to prepay Reliance Jio Infocomm borrowings and the rest for general corporate purposes. Analysts at Morgan Stanley and Citi Research value the company at around 133 billion dollars, implying about 13 times FY27 EV/Ebitda; Reliance Industries holds 66.43 percent while Meta, Google, KKR, Vista, Silver Lake, Mubadala, General Atlantic and ADIA are other investors.