Overview
- Jio Platforms is ready to file IPO papers but is holding the DRHP until a finance ministry notification confirms SEBI’s revised rules, the company said on its earnings call.
- Morgan Stanley and Goldman Sachs are said to be chosen as lead managers, with reports indicating an even split between new shares and stock sold by private‑equity holders KKR, Silver Lake and Vista, while Google and Meta are expected to retain their stakes.
- SEBI’s proposal lowers the minimum initial public float for companies valued above ₹5 lakh crore to 2.5% and extends the timeline to reach 15% public shareholding in five years and 25% in ten years.
- Recent bank estimates put Jio Platforms’ valuation in a roughly $133–$182 billion range, implying about $4–$4.5 billion could be raised from a 2.5% sale once rules take effect.
- Operational momentum remains strong, with Jio reporting Q3 FY26 revenue up 13% year on year, EBITDA up 16%, net profit up 11% to ₹7,629 crore, and 8.9 million net subscriber additions.