Jio set to file IPO papers within days

Reliance Jio Platforms is expected to file draft papers for a roughly $4-billion initial public offering (IPO) with market regulator Sebi within days, moving the largest telecom operator a step closer to what could become the country’s biggest-ever stock market listing.

According to a Financial Times report, the filing could come just ahead of Reliance Industries’ annual general meeting on June 19, where investors will be watching for fresh commentary from Chairman Mukesh Ambani on the group’s listing plans and the future of its digital businesses. While Reliance has not officially announced a timeline for the IPO, preparations for the offering are understood to be at an advanced stage.