Reliance Jio Platforms has reportedly appointed as many as 17 investment banks to manage its much-anticipated initial public offering (IPO), signaling a major step toward what could become India’s largest public listing.
Key Highlights
- Reliance Jio appoints 17 banks, prepares to file DRHP by end of March.
- Mega IPO expected to be among India’s largest, primarily structured as an offer for sale.
The consortium includes global financial giants such as Citigroup, JPMorgan, Goldman Sachs, and Morgan Stanley, along with leading domestic institutions like Axis Capital, ICICI Securities, and Kotak Mahindra Capital.
According to reports, the company is preparing to file its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) by the end of March 2026, marking the formal start of the IPO process.
The proposed IPO is expected to be structured largely as an offer for sale (OFS), allowing existing investors such as KKR, General Atlantic, Silver Lake, and Abu Dhabi Investment Authority to partially exit their holdings. Notably, the company may not raise fresh capital through the issue.
Also Read: Motital Oswal: Reliance Jio May Hit Rs 30,000 Cr, Potentially India's Largest
Market estimates suggest the offering could exceed $4 billion (₹40,000 crore), potentially making it the largest IPO in India’s history.
The IPO preparations have gained momentum following regulatory changes that allow large companies to list with lower public shareholding, further easing the path for mega listings.
