The IPO will be a fresh issue of 27 crore shares. There is no Offer For Sale (OFS) component, meaning all the proceeds will go to the company, and no existing shareholder is selling shares in the IPO.
The 27 crore shares offered as part of the IPO, amount to 2.93% of the post-issue equity of the company.
The DRHP states that the proceeds from the fresh issue of shares will be used to pare down debt of its unit Reliance Jio Infocomm (RJIL). This targets external commercial borrowings, particularly from three syndicated term-loan facilities.
The total principal outstanding of this is around ₹30,057.2 crore as of March 31, 2026 and these loans were originally used for capex and spectrum acquisition, the DRHP stated.
Rest of the proceeds will be used for general corporate purposes, which has been capped at 25% of the gross proceeds. This will cover strategic initiatives, inorganic growth, deferred payment liabilities, marketing and brand-building, capex, working capital and contingencies.
According to the management, the prepayment will reduce net debt and servicing costs, improve net leverage and NAV per share, create headroom for continued investment in 5G densification, fixed broadband expansion, AI / cloud services, enterprise digital services and international tech partnerships.
About Jio Platforms
As of March 31, Reliance Jio Infocomm, the subsidiary company, served 524.4 million customers, including 268.5 million 5G customers and 27.1 million fixed broadband customers.
The company has described itself as a “technology platform”. The company has over 11,000 employees, and has also applied for 6,817 patents, and features among the top 20 global PCT Patent Filings list.
Reliance Retail is the sole distributor of Jio’s prepaid services and prepaid connectivity made up of 77.08% of the company’s consolidated revenue in financial year 2026.
Reliance Industries has a 66.43% stake in the company, while other marquee shareholders include Meta (9.99%), Google (7.73%), Saudi Arabia Wealth Funds (2.31%), Vista Equity Partners (2.31%), Silver Lake (1.88%), Mubadala (1.85%), GA Singapore (1.34%), Abu Dhabi Investment Authority (1.16%), and TPG Capital (0.93%).
Kotak Mahindra Capital, Morgan Stanley India, BofA Securities India, Axis Capital, BNP Paribas, Citigroup, CLSA India, DAM Capital, Goldman Sachs, HDFC Bank, HSBC Securities and Capital Markets, ICICI Securities, IIFL Capital Services, Jefferies India, JM Financial, JPMorgan India, UBS Securities, 360 ONE WAM are among the Book Running Lead Managers of the IPO.
