Global Investors to Sell 8% Stakes in $4 Billion Offer Ahead of Jio IPO

Ahead of the planned initial public offering (IPO) of Jio Platforms, foreign investors are set to pare down around 8% of their individual holdings, according to a report by the Economic Times. None of the investors, however, are expected to make a full exit.

The proposed divestment will be proportionately distributed across Jio’s 14 marquee investors, with each expected to trim roughly 8–8.5% of their stakes. This translates to about 2.8% of Jio Platforms’ total outstanding shares being offered in the IPO, amounting to nearly 250–252 million shares.

The offering, estimated at around $4 billion, will be structured entirely as an offer for sale (OFS), providing partial exits for early investors rather than raising fresh capital for the company, sources told the publication.

The company is expected to file its draft red herring prospectus (DRHP) as early as Friday, subject to the completion of legal vetting.

Promoter Reliance Industries will retain its 67% stake in Jio Platforms and will not participate in the share sale.

Key Investors Trimming Stakes

Among the largest shareholders, Meta Platforms — led by Mark Zuckerberg — is expected to reduce its holding through its investment arm Jaadhu Holdings, while Google is also likely to pare its stake.

Post-offer, Meta’s stake could fall to 9.1% from 9.98%, while Google’s holding may decline to around 7% from 7.73%.

Valuation

Jio Platforms had raised over $20.5 billion in 2020 through stake sales to global investors. Investment bank Jefferies had estimated the company’s valuation at around $180 billion in November, while earlier reports suggested the IPO could be worth up to $4 billion, though final figures are yet to be determined.