SAM Acts as Lead Counsel To Jio Platforms On Proposed IPO

Shardul Amarchand Mangaldas & Co. (“SAM”) is advising Jio Platforms Limited (“Jio Platforms“), a material subsidiary of Reliance Industries Limited, as its Lead Legal Counsel in its proposed Initial Public Offering (“IPO“).

Jio Platforms has filed the draft red herring prospectus in connection with the IPO on June 19, 2026, with the Securities and Exchange Board of India, BSE Limited and National Stock Exchange of India Limited. This marks an important milestone for Jio Platforms.

The IPO is expected to be among the largest public offerings in the history of India’s capital markets.

The IPO comprises a fresh issue of up to 270,000,000 equity shares of face value of ₹ 10 each. The IPO remains subject to receipt of the requisite regulatory approvals, and the issue price shall be determined in accordance with the applicable laws.

Jio Platforms filed its DRHP (draft red herring prospectus) to raise Rs 37,700 crore and announcing a valuation of $137 billion, dwarfing the NSE IPO, for which the initial papers were submitted on June 17, and snatching the title of “the biggest IPO” from NSE within 72 hours.

“The proposed listing of Jio will demonstrate to the world that India can build technology companies of global scale, global capability, and global value,” Reliance Chairman Mukesh Ambani said at the company’s annual shareholder meeting. It will be the first IPO from the Reliance group in about 20 years.

The transaction team at SAM is being led by Nikhil Naredi, Partner, along with Chinmay Sethia, Principal Associate; Tarun Srikanth, Principal Associate; Shruthi Hariharan, Senior Associate; Sridutt Mishra, Senior Associate; along with Associates, Ankita Singh, Najeeb Din, Aryan Singh, Soundarya Mathavan, Dhanashree Singe, Avani Sharda, Gayathri Krishnan, and Anshika Tyagi.

Prashant Gupta, Partner and National Practice Head – Capital Markets, has provided strategic inputs to the transaction.