Jio Platforms, Six Others Get SEBI Nod To Launch IPOs

Seven companies have received clearance from the Securities and Exchange Board of India (SEBI) to proceed with their initial public offerings (IPOs), with Reliance Industries' digital arm Jio Platforms leading the pack in scale.

SEBI issued its observations on the draft offer documents of Paras Healthcare, Paramotor Digital Technology, Bharat PET and Pushp Brand (India) between August 24 and August 27. Observations on the papers filed by M K Sons Fine Jewels, Sadbhav Futuretech and Jio Platforms followed on August 28, according to the regulator's processing status report for the week ended August 28.

All seven companies, Bharat PET, Sadbhav Futuretech, Paramotor Digital Technology, M K Sons Fine Jewels, Jio Platforms, Paras Healthcare and Pushp Brand (India), had filed their draft IPO documents with SEBI between March and June this year.

In regulatory terms, an observation from SEBI allows a company to launch its IPO within one year if filed through the regular route. Companies that opt for the confidential filing route instead get an 18-month window to bring their issue to market.

Jio Platforms' Fundraise Takes Centre Stage

Among the seven, Jio Platforms' proposed offering stands out for its size. The company plans to raise funds entirely through a fresh issue of 27 crore equity shares, with no offer-for-sale component built into the structure. This means every rupee raised through the issue will go directly to the company rather than existing shareholders.

Jio Platforms intends to use ₹27,500 crore of the net proceeds to repay debt, while the remaining amount has been set aside for general corporate purposes, its draft prospectus stated.

The IPO will also put the spotlight on Jio Platforms' wide investor base. Reliance Industries holds the largest stake at 66.43%, followed by Meta Platforms at 9.98% and Google at 7.73%. Other stakeholders include Saudi Arabia's Public Investment Fund, KKR and Vista Equity Partners, each holding 2.31%, along with Silver Lake at 1.88%, Mubadala at 1.85%, General Atlantic Singapore at 1.34%, Abu Dhabi Investment Authority at 1.16% and TPG Capital at 0.93%.

According to a Bloomberg report, Jio Platforms could raise close to $4 billion through the offering, with the company expected to seek a valuation upward of $100 billion. Should the IPO materialise at that scale, it would surpass Hyundai Motor India's $3.3 billion listing in 2024, marking one of the largest share sales in the country's history.

The IPO plan comes on the back of steady operating performance. Jio Platforms reported revenue of ₹45,961 crore for the June quarter, up 12% from a year earlier, while revenue from operations climbed to ₹39,173 crore. EBITDA rose 15% year-on-year to ₹20,865 crore, with the EBITDA margin improving to 53% from 52% in the same period last year. Profit after tax grew 9.2% to ₹7,764 crore.

Reliance Jio Infocomm, the telecom subsidiary under Jio Platforms, served 52.44 crore customers across India as of March 2026. Jio Platforms brings together mobile, fixed broadband and digital services under one umbrella, along with data analytics and customer-personalisation capabilities.