Jio Platforms receives SEBI approval for issue of up to 27 crore shares

Jio Platforms has received approval from India's Securities and Exchange Board for an issue of up to 27 crore shares, The Asian Age reported. The company plans a fresh issue, with most proceeds expected to repay or prepay borrowings of Reliance Jio Infocomm. Reliance Jio Infocomm contributes around 90% of Jio Platforms' revenue. Jio's customer base reached 524.4 million in March 2026, while fixed broadband connections exceeded 27 million. The final issue price and valuation are still to be announced, and the business requires continued investment in spectrum, network equipment and fibre.