Jio Platforms IPO may come without offer-for-sale, could value company at Rs 12 lakh crore

Jio Platforms’ much-awaited initial public offering (IPO), expected to be India’s biggest issue to date, is likely to have no offer-for-sale (OFS), with investors showing no interest in diluting their holdings, sources aware of the development said.

The digital services firm may list among India’s top three stocks at a valuation of around Rs 12 lakh crore, they said.

“Based on interest received during the overseas roadshows, JPL IPO may list among top three stocks in terms of market capitalisation. It is expected to list at a valuation of around Rs 12-13 lakh crore,” a source said.