Stage set for India’s biggest IPO: Jio Platforms files draft papers, eyes Rs 12.5 lakh crore valuation
Reliance Industries-backed Jio Platforms, India’s largest telecom operator, on Friday filed a draft red herring prospectus with the Securities and Exchange Board of India, setting the stage for what could become the country’s biggest-ever initial public offering and marking a milestone after years of speculation over the listing.
The company, which will offer 27 crore shares for sale, is likely to raise as much as ₹36,000 crore according to market estimates, valuing Jio Platform (which has investment from a number of marquee investors such as Meta, Google) at close to ₹12.5 lakh crore.
