Jio Platforms IPO To Be Entirely Fresh Issue: Report

Reliance Industries Ltd’s (RIL) digital arm Jio Platforms is reportedly revamping the contours of its IPO, with the public issue now likely to comprise only a fresh issue as against the earlier plans of just offer for sale. 

The reason for the change is conflict of opinions among existing investors over IPO price, ET reported, citing sources.

“There is an inherent conflict of interest which is unique to Jio… Shareholders want to price the issue as high as possible. But that creates two risks. First, the issue could become too large for markets to absorb,” a source was quoted as saying.

While shareholders want to sell their shares at a higher price band, RIL finds it a risk that could probably hurt retail investors in case of a listing day loss, another source was cited as saying. 

To determine the structure and pricing of the IPO, the telecom and digital services business has been in discussions with global technology firms, sovereign wealth funds and private equity investors, as per the report.

Inc42 has reached out to Jio for comments on the development. The story will be updated on receiving a response. 

While RIL announced the IPO plans for Jio last year, the company was awaiting the final approval from the government for reducing the public shareholding norms for new issues. In March, the finance ministry eased public float norms for mega IPOs, clearing the way for Jio’s public issue.

Earlier, reports said that Jio was mulling a $4 Bn (₹36,100 Cr) public issue, where 2.5% of the company’s shares would be on offer. Investment bankers were pitching a valuation of $200 Bn to $240 Bn for Jio. However, the final number has not been decided yet. 

On the financial front, Jio Platforms reported a 13% rise in net profit to ₹7,935 Cr in Q4 FY26 to ₹7,023 Cr in the year-ago quarter. Operating revenue rose 12.6% YoY to ₹38,259 Cr during the quarter under review.

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