Ambani's Jio Platforms IPO pivots to pure fundraising, no investor exits, sources say

Aditya Kalra and Vibhuti Sharma

Sun, May 10, 2026 astatine 11:22 PM CDT 1 min read

By Aditya Kalra and Vibhuti Sharma

MUMBAI, May 11 (Reuters) - Mukesh Ambani's Reliance Jio Platforms has pivoted ‌to a axenic fundraising for its planned ‌Mumbai listing, selling a 2.5% involvement successful the offering and dropping ​earlier plans that would person allowed immoderate shareholders to exit, 2 sources said.

Indian billionaire Ambani's Jio Platforms, which owns the world's second-largest telecom institution by users aft China ‌Mobile, counts Meta, ⁠Alphabet's Google and Vista Equity Partners among its investors.

"Investors were not keen to merchantability ⁠and wanted to enactment invested for the agelong term," 1 of the sources said.

The steadfast earlier held discussions ​with its ​foreign investors for each ​to merchantability 8% of ‌their idiosyncratic holdings successful the IPO, Reuters antecedently reported.

The IPO was earlier acceptable to beryllium an offer-for-sale, meaning nary caller fundraising was planned and lone existing investors would person exited arsenic the institution went public.

The Economic ‌Times was archetypal to study ​on the company's plans to ​pivot to a caller ​fundraising with the offering connected Monday.

The ‌listing is simply a cardinal plank ​of Ambani's semipermanent ​vision to alteration Reliance from an oil-and-chemicals elephantine into an "everything company" spanning consumer, retail and technology.

Jio ​Platforms did not ‌respond to a Reuters petition for comment.

(Reporting by ​Aditya Kalra and Vibhuti Sharma; Editing by ​Sonali Paul and Thomas Derpinghaus)