Jio Platforms is waiting for final guidelines from the government on recommendations made by market regulator SEBI before firming up its listing plan, a senior company official said.
Stock market regulator SEBI in September decided to relax initial public offering (IPO) rules for very large companies and also extend the timeline by up to 10 years for them to meet minimum public shareholding norms.
For companies with a market capitalisation above Rs 1 lakh crore, mandatory offer requirements would be reduced to 2.75 per cent from the current 5 per cent, while those above Rs 5 lakh crore would need to dilute only 2.5 per cent.
"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. 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," Jio Head of Strategy Anshuman Thakur said in the company's recent earnings call.
He said that the company is just awaiting the final notification, which is expected to be issued in the next few months for sure.
Jio Platforms is gearing up for the public listing in the first half of 2026.
Analysts estimate Jio Platforms IPO to be listed at an enterprise valuation in the range of USD 101 billion to USD 180 billion.
The company is likely to dilute only a small stake.
SEBI has recommended that large companies would also be given up to 10 years to achieve the 25 per cent minimum public shareholding requirement, compared with five years at present.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
Watch LIVE TV, Get Stock Market Updates, Top Business, IPO and Latest News on NDTV Profit.