Jio Platforms Receives Regulatory Approval for IPO with Meta and Google Among Major Shareholders
India's largest telecom operator, Jio Platforms, has received regulatory approval to proceed with its initial public offering (IPO), which is expected to be the country’s biggest. The company plans to raise approximately $3.9 billion through the issuance of up to 270 million shares. Proceeds will go toward reducing debt at Reliance Jio Infocomm, India's largest wireless operator. Jio Platforms is owned by billionaire Mukesh Ambani's Reliance Industries (66%), with Meta and Google holding significant stakes—10% and 7.7%, respectively. Neither tech giant plans to sell its shares in the IPO. The Indian capital market regulator has also requested clarifications from NSE regarding its draft prospectus, potentially affecting timelines for other offerings. India's IPO market is expected to remain robust through late 2026 due to improving economic conditions and lower volatility.
Topics: Google IPO Jio Platforms Meta Reliance Industries