Jio IPO Drops OFS, 100% Fresh Issue, ₹25,000 Cr Fundraise Plan

Jio Platforms IPO Latest Update

Investors waiting for the IPO of Reliance Jio Platforms have received a major update. The company has now changed its IPO structure from a mix of fresh issue and OFS to a 100% fresh issue.

Jio is planning to raise ₹25,000 crore via fresh issue, mainly for debt repayment. The DRHP is expected in the next 7 to 15 days, and the IPO listing is likely in July 2026.

Why OFS Was Dropped

Earlier, investors like Meta Platforms, Google, KKR, and Vista Equity Partners planned to sell around 8 to 8.5% stake.

However, disagreement on pricing occurred. Investors wanted a higher valuation, while Mukesh Ambani preferred a fair price for retail participation, leading to cancellation of OFS.

Use of Funds & Business Plan

The company’s debt-to-equity ratio is 0.24, and after IPO it may become nearly debt-free. Funds will also support:

• AI cloud services
• 5G expansion
• Home broadband
• Satellite internet

Financial Highlights (FY26)

• Revenue: ₹1,72,317 crore (↑14.5%)
• EBITDA: ₹76,255 crore (↑19%)
• PAT: ₹30,049 crore (↑15%)
• EBITDA margin: 51.9%
• Subscribers: 524.4 million
• 5G users: 268 million

Investor Outlook

Short-term listing gains may be moderate due to global uncertainties, but strong growth and market leadership make it a potential long-term investment opportunity.