Jio Platforms files DRHP for $4B IPO at $137B valuation, India's largest ever
Reliance's digital arm seeks $4 billion via fresh issue at $137 billion valuation, with Rs 27,500 crore earmarked for debt repayment. Reliance keeps 66.43%; Meta (9.99%) and Google (7.73%) stay invested. Pitch leans on 524M subscribers, 268M 5G users, and Rs 10 lakh crore AI investment.
What happened
Jio Platforms filed DRHP for India's largest-ever IPO seeking $4 billion at $137 billion valuation. Fresh issue only, with Rs 27,500 crore earmarked for debt
Key facts
- $4 billion
- Rs 37,700 crore
- $137 billion valuation
- 27 crore shares
- 2.9% post-issue equity
- Rs 27,500 crore debt prepayment
- Rs 71,529 crore total borrowings
- 66.43% Reliance stake
- 9.99% Meta stake
- 7.73% Google stake
- 524.4 million subscribers
- 268.5 million 5G users
- Rs 1.47 lakh crore revenue
- Rs 30,000 crore PAT
- Rs 214 ARPU
- 42.6% fixed broadband share
- 77.49% 5G FWA share
- Rs 10 lakh crore AI investment
Why this matters
India's largest-ever IPO at $4B fresh issue creates a liquid comparable for digital-telecom assets and could accelerate consolidation pressure on regional players lacking AI/5G scale to match the Rs 10 lakh crore investment thesis.