Daijiworld Media Network – Mumbai

Mumbai, May 11: Reliance Industries is reportedly revising its plans for the initial public offering of Jio Platforms, which is expected to become one of India’s biggest-ever IPOs.

According to a report by The Economic Times, the company is considering issuing fresh shares instead of allowing existing investors to sell stakes through an offer-for-sale route.

The report said the change in strategy came after some Jio investors sought a higher valuation for the IPO, while the Mukesh Ambani-led group preferred a more conservative pricing approach to avoid heavy listing-day losses for retail investors.

If the IPO consists entirely of newly issued shares, the proceeds would go directly to Jio Platforms rather than existing shareholders looking to reduce their holdings. However, the move would also dilute the stakes of current investors.

The report further said Reliance may allow market forces to determine Jio’s valuation after listing, enabling private equity investors to exit at a later stage.

Around Rs 25,000 crore from the proposed issue could reportedly be used for debt repayment.

The listing would mark the first IPO by a major Reliance group company in nearly two decades.

Reliance had formally begun preparations for the public issue in March and reportedly appointed as many as 19 investment banks to manage the offering.

Among the firms selected for advisory roles are Kotak Mahindra Capital, Morgan Stanley, JM Financial, Goldman Sachs, HSBC, Bank of America and Citigroup.

The draft prospectus for the IPO is now expected to be filed within the next one to two weeks, which could potentially push the listing timeline to July, the report added.

Jio Platforms has not officially responded to the report.