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The issue comprises a fresh sale of up to 270 million equity shares, with no offer for sale (OFS) component. The IPO, ₹30,213 crore, surpassing Hyundai Motor India's 2024 offering of ₹27,859 crore - the country's largest concluded IPO so far. The National Stock Exchange (NSE) recently concluded a ₹22,562-crore IPO. Jio Platforms is the digital and telecom arm of Reliance Industries, led by billionaire Mukesh Ambani. The company has also set aside shares worth up to ₹2,500 crore for eligible Reliance Industries shareholders and up to ₹500 crore for eligible employees, according to the regulatory filing. The shareholder reservation will allow existing investors in Reliance Industries to apply for shares in Jio Platforms. Individuals and Hindu Undivided Families (HUFs) that held public shares of Reliance Industries as of October 14 will be eligible, subject to the conditions set out in the prospectus and applicable regulations. Together, the two categories account for reservations worth up to ₹3,000 crore. RIL informed the exchanges about the RHP filing on Wednesday. The move follows the filing of the draft prospectus in June and the receipt of an observation letter from the Securities and Exchange Board of India (Sebi) in August. Read more: Jio IPO: 5 strengths that put the Reliance-backed digital giant in spotlight The company received approval from the regulator on August 28 to proceed with the share sale after filing its draft IPO papers in June. Jio Platforms intends to use part of the IPO proceeds to prepay up to ₹27,500 crore of borrowings at Reliance Jio Infocomm (RJIL), its operating subsidiary. The remaining proceeds will be used for general corporate purposes. The listing will also mark the first IPO by the Reliance Industries group in nearly two decades. The group last tapped the public markets with the listing of Reliance Petroleum in 2006. Read more: Jio IPO sparks investor buzz: GMP rises to 20% as Reliance’s telecom arm announces price band, dates Institutional and other large investors collectively hold nearly 30.9% of Jio Platforms. Meta Platforms affiliate Jaadhu Holdings owns 9.98%, while Google International holds 7.73%. Other investors include Saudi Arabia's Public Investment Fund, affiliates of Silver Lake and Vista Equity, General Atlantic, KKR-backed entities and investment vehicles managed by the Abu Dhabi Investment Authority. A consortium of 19 bankers, including Kotak Mahindra Capital Company, Morgan Stanley India, BofA Securities India, Axis Capital, BNP Paribas, Citigroup Global Markets India, CLSA India, DAM Capital Advisors, Goldman Sachs (India) Securities, HDFC Bank, HSBC Securities and Capital Markets (India), are managing the issue. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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