Reliance Jio Platforms has formally kicked off its public listing journey, filing its Draft Red Herring Prospectus (DRHP) on Friday with the Securities and Exchange Board of India (SEBI) for what is expected to be one of the largest IPOs in Indian market history.
The proposed offering consists of a fresh issue of up to 27 crore equity shares, with no offer-for-sale (OFS) component. Based on market estimates, the IPO could be valued at around $4 billion (nearly ₹37,700 crore) at current market valuations, making it India's largest-ever public offering.
If those estimates hold, Jio's share sale would surpass both the proposed National Stock Exchange (NSE) IPO, expected to be around ₹30,000 crore, and Hyundai Motor India's ₹27,870 crore offering in 2024.
