Jio Platforms Ltd. has held talks with 13 marquee foreign investors to sell down 8% of individual stakes in its initial public offering (IPO), set to be India's largest in history.
The company, with the world's second-largest telecom userbase after China Mobile, is set to file its IPO papers in Mumbai as early as this week.
Big investors on the list include Meta Platforms Inc. (9.99% stake) and Google (7.73%), as well as Vista Equity Partners and KKR.
The Jio Platforms IPO is being structured as an offer-for-sale (OFS), where no new funds are raised by the companies and existing shareholders offload stakes.
Reliance wants to leave money on the table for retail investors and there is no decision yet on valuation of the company.
