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  5. Reliance Jio IPO could go all-in on fresh capital with no OFS component, says report

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Reliance Jio IPO could go all-in on fresh capital with no OFS component, says report

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By Upstox News Desk

2 min read | Updated on May 12, 2026, 15:35 IST

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SUMMARY

Reliance Jio IPO: The existing shareholders want the issue price to be as high as possible. However, RIL believes that high pricing may hurt retail investors if it leads to a listing day loss, the report said.

Reliance Jio Platforms, which will list on the NSE and the BSE, has hired 17 bankers to manage its listing. | Image: Shutterstock

Reliance Jio Platforms, which will list on the NSE and the BSE, has hired 17 bankers to manage its listing. | Image: Shutterstock

Reliance Jio IPO: The most-awaited initial public offering of Jio Platforms, the telecom and digital venture of Reliance Industries Limited (LTD), could be a pure fresh issuance of shares. The company may abandon its offer for sale (OFS) due to differences with existing investors over issue pricing, The Economic Times reported, citing three people in knowledge of the development.
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The report said that the existing shareholders want the issue price to be as high as possible. However, RIL is of the opinion that high pricing may hurt retail investors if it leads to listing day loss, a source told ET.

Another source told the newspaper that RIL chairman Mukesh Ambani's priority is to protect retail investors. "There must be room for upside in the stock price post-listing," the person said.

The telecom operator is expected to file a draft red herring prospectus (DRHP) with SEBI within the fortnight, ET reported. However, the timeline could change depending on conditions. The initial public offering, likely to be India’s largest-ever, could be worth as much as $4 billion.

In 2020, Jio Platforms had raised ₹1.52 lakh crore from high-profile investors, including Google, Facebook (Meta), Vista Equity Partners, Silver Lake, ADIA, TPG, L Catterton, Public Investment Fund of Saudi Arabia, General Atlantic, Mubadala, Intel Capital, KKR and Qualcomm Ventures, for a total consideration of a 32.9% stake.

Meta has a 9.99% stake in Jio Platforms, while Google holds a 7.73% stake.

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Reliance Jio Platforms, which will list on the NSE and the BSE, has hired 17 bankers to manage its listing.

Last month, Mukesh Ambani stated that Jio Platforms is advancing steadily towards the listing.

“I am happy to note that we are advancing steadily towards the listing of Jio Platforms. This will mark a defining milestone in its journey as it continues to scale new heights and contribute to India’s digital future," he said.

“Robust full-year EBITDA growth of 19% was driven by continuing traction in mobility, home broadband, and enterprise services. As we work to democratise access to AI tools and next-generation technology platforms, Jio is well placed to shape how India communicates, computes, and consumes content in the years ahead,” the RIL chairman added.

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