Jio Platforms is set to kick off formal investor outreach for its initial public offering as early as next week, marking a major step towards what could become one of India’s largest-ever stock market listings.
The digital and telecommunications arm of Reliance Industries is expected to hold meetings with investors across the US, Singapore, Hong Kong, London and the Middle East as it builds momentum ahead of the proposed IPO.
The company is currently targeting a November listing, although discussions are ongoing and the final size, valuation and timing of the offering could change.
Jio Platforms filed its draft IPO documents with the Securities and Exchange Board of India (SEBI) on June 19 and received regulatory approval on August 28. The proposed issue includes up to 270 million new shares, representing around 2.9% of the company’s equity.
The company plans to use part of the IPO proceeds to repay debt. Earlier reports have indicated that the offering could raise up to $4 billion, potentially making it a landmark transaction for India’s capital markets.
The proposed listing comes alongside a busy period for India’s IPO market, with several large offerings in the pipeline, including the planned listing of the National Stock Exchange.
