Jio IPO poised to break Indian records. Reliance Jio Platforms is set to file its draft red herring prospectus with market regulator Sebi, marking the beginning of what could become India's largest initial public offering. The company is targeting a valuation around $125 billion with IPO size expected to exceed $3 billion, surpassing the Life Insurance Corporation's $2.5 billion offering from 2022 and Hyundai's $2.97 billion IPO from 2024. Only 2.5 percent equity will be offloaded through the offer for sale route, with no fresh capital being raised by the company. Akash Ambani, who took charge as chairman in 2022 following succession planning by his father Mukesh Ambani, is leading this major initiative for Reliance Industries' telecom division.
