Jio Platforms may file its draft IPO papers with SEBI as early as the end of this month, including its financials up to the December quarter of 2025.
The telecom and digital services arm of Reliance Industries Ltd (RIL) kicked off its public listing process yesterday by appointing 17 bankers. Morgan Stanley, HSBC Holdings, JPMorgan, Citigroup, and Goldman Sachs are among the nine global banks appointed for advisory roles, Bloomberg reported citing sources.
Domestic advisors include Kotak Mahindra Capital, Axis Capital, JM Financial, SBI Capital Markets, among others, it added.
Queries sent to Jio Platforms didn’t elicit a response at the time of publication.
The development came days after the Centre eased the public float norms for mega IPOs.
Under the revised rules, companies with a post-issue capital of more than ₹5 Lakh Cr can offer a minimum 2.5% of their shares to the public when listing on recognised stock exchanges. This requirement stood at 5% earlier, which was a concern for bigger companies due to uncertainty about the market’s ability to absorb such a large supply of shares.
Such companies will have five years from the listing to increase the public shareholding to 15% and 10 years to hike it to 25%.
RIL had earlier expressed concerns that the Indian market might not have the depth for a listing of the size of Jio. The company, which houses telecom player Reliance Jio Infocomm, has been estimated to command a market capitalisation of up to $170 Bn (about ₹14 Lakh Cr), making it one of the largest unlisted companies in the country.
Jio’s public offering has been long in the making with reports about a potential listing first surfacing years ago. RIL CMD Mukesh Ambani announced the company’s ambitions to take the telecom giant public at the 48th RIL annual general meeting in August 2025, stating that Jio was preparing to file for an IPO with a target listing in the first half of 2026.
On the financial front, Jio Platforms’ Q3 FY26 net profit increased 11% YoY to ₹7,629 Cr while operating revenue jumped 13% YoY to ₹37,262 Cr. EBITDA grew 16% YoY to ₹19,303 Cr, while EBITDA margin expanded 170 basis points to 51.8%.
During the quarter, Jio Platforms added 8.9 Mn net subscribers, taking its total user base to over 51.5 Cr. Its 5G user base grew by 1.9 Cr to more than 25.3 Cr users. Fixed broadband connections also increased, with 25 Lakh new additions taking the total past 2.5 Cr.
Shares of RIL were trading 0.92% higher at ₹1,409.25 on the BSE at 10:55 IST.
The post Jio Likely To File Draft IPO Papers By Month-End: Report appeared first on Inc42 Media.
https://ift.tt/5Ri8YWD
0 Comments