Kamal Ghorui
Jio Platforms is waiting for the government to issue final guidelines on SEBI’s proposed changes to IPO rules before finalising its listing plans, a senior company official said. The company’s IPO timeline will depend on when these regulatory details are clarified.SEBI in September approved proposals to relax initial public offering requirements for very large companies and extend the deadline for meeting minimum public shareholding norms by up to 10 years. Under the recommendations, companies with a market capitalisation above Rs 1 lakh crore would need to offer only 2.75% of equity to the public, down from the current 5%. Firms valued above Rs 5 lakh crore would be required to dilute just 2.5%, according to news agency PTI. “The Jio IPO, internally we are working on it. Of course, we are awaiting the new notification to come from the government to see what the final details are going to be,” Jio Head of Strategy Anshuman Thakur said during the company’s recent earnings call. “We are working on the assumption that it is in line with whatever SEBI has recommended, but we will still have to wait for that before we finalise and then start the process,” he added. Thakur said that the final notification is expected to be issued in the next few months, after which the company would move ahead with formal steps toward the listing.Jio Platforms is preparing for a public listing in the first half of 2026. Analysts estimate that the IPO could value the digital services arm of Reliance Industries at an enterprise valuation ranging between $101 billion and $180 billion.The company is expected to dilute only a small stake at the time of listing, in line with the proposed relaxed norms for large issuers.SEBI has also recommended giving large companies up to 10 years to meet the 25% minimum public shareholding requirement, compared with the current five-year timeline, a move aimed at easing compliance for mega listings while broadening market participation.
