Investors may offload 252 million shares in Jio Platforms’ IPO

Mumbai | New Delhi: Global technology firms, sovereign funds and private equity investors are set to offload 250-252 million shares or nearly 2.8% stake in Jio Platforms Ltd’s upcoming initial public offer (IPO), people aware of the details told ET.
The IPO, estimated at a reported $4 billion, will be an offer for sale (OFS) that provides an exit for early investors rather than looking to raise fresh capital, said the people cited.

Divestments in what’s expected to be one of India’s biggest IPOs will be proportionately spread across Jio’s 14 marquee investors, with each trimming roughly 8-8.5% of their holdings. None of the existing shareholders will make a full exit.