Jio Platforms IPO: Prospectus Filing Expected by March End, 17 Bankers Appointed

• Reliance Industries Ltd. aims to file a draft red herring prospectus for Jio Platforms Ltd. IPO by March end, using December-end financials.
• The company appointed 17 bankers, including global firms like Morgan Stanley, HSBC, JPMorgan, Citigroup, and Goldman Sachs, and domestic advisers such as Kotak Mahindra Capital and Axis Capital.
• The IPO plans gained momentum after the government approved changes allowing large issuers to dilute as little as 2.5% equity.
• This could be India’s largest-ever IPO and the first by a major Reliance unit in almost two decades.
• The offering is expected to largely comprise a secondary share sale by existing investors, with details still being finalized.