Jio Platforms’ June 2026 draft red herring prospectus filing and subsequent SEBI approval in late August have cleared the regulatory path for what would be India’s largest IPO, targeting roughly $3.8 billion through a fresh issue of about 270 million shares. The company, which houses Reliance Jio’s telecom operations along with expanding AI, cloud, and enterprise segments, plans to use most proceeds to repay subsidiary debt and fund 5G densification, fixed broadband, and new technology initiatives. Major investors including Meta and Google retain stakes without selling shares, supporting a valuation range cited between $130 billion and $180 billion. With the listing process now advanced, traders are watching for anchor investor meetings, final pricing, and any last regulatory or market-timing hurdles that could still delay the debut.