Reliance Jio IPO Plans Advance as Global Investors Eye Stake Sale
Indian billionaire Mukesh Ambani’s Reliance Jio Platforms is moving closer to its much-anticipated Mumbai stock market debut, with discussions underway involving 13 prominent foreign investors. According to sources, the company is exploring the sale of around 8% of individual stakes held by these investors as part of the offering. The telecom-to-AI giant, which operates the world’s second-largest mobile network after China Mobile, is expected to file for IPO approval as early as this week.
Major stakeholders in Jio Platforms include Meta (9.99%), Google (7.73%), along with private equity firms like Vista Equity Partners and KKR. Sovereign wealth funds such as Public Investment Fund, Mubadala, and Abu Dhabi Investment Authority are also part of the investor pool. An 8% sell-down by each investor would translate to roughly 2.5% of Jio’s total outstanding shares being offered to the public, though final figures remain subject to change.
The IPO is expected to follow an offer-for-sale model, meaning no fresh capital will be raised by the company, and existing investors will offload stakes instead. Sources indicate the total stake sale could range between 2.5% and 3%, with a focus on leaving room for retail investor participation. While valuation discussions are ongoing, estimates from Jefferies have pegged Jio Platforms at around $180 billion, with the IPO potentially raising up to $4 billion. The company has reportedly appointed 17 banks to manage what is set to be one of India’s most significant public listings in recent years.
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