Core Viewpoint - Reliance Industries Ltd. is preparing for the initial public offering (IPO) of its telecom unit, Jio Platforms Ltd., with plans to file a draft red herring prospectus by the end of the month, potentially making it India's largest-ever IPO [2][6]. Group 1: IPO Preparations - The company has appointed 17 bankers to manage the IPO, including nine global banks such as Morgan Stanley, HSBC, JPMorgan Chase, Citigroup, and Goldman Sachs, along with domestic advisers like Kotak Mahindra Capital, Axis Capital, JM Financial, and SBI Capital Markets [1][6]. - The IPO plans have accelerated following a government approval that allows large issuers to dilute as little as 2.5% of their equity [2][6]. Group 2: Offering Details - The proposed IPO is expected to consist mainly of a secondary share sale by existing investors and is anticipated to occur later this year [2][6]. - Specific details regarding the size, structure, and timing of the transaction are still being finalized and may change [2][6].
Jio tells bankers it may file IPO prospectus as early as March
The Economic Times·2026-03-18 01:21