RIL may offload 2.5% in Jio, net ₹40K cr

Morgan Stanley, Kotak working on IPO papers; filing likely by March end

- URVI MALVANIA

RELIANCE INDUSTRIES (RIL) is exploring the sale of an around 2.5% stake through the listing of its telecom and digital arm, Jio Platforms, in the first half of the calendar year, people familiar with the matter said.

The timing and size of the offering, however, would hinge on regulatory clarity from the finance ministry on a proposal to relax the minimum public float norms for large companies.

At present, market rules require large issuers to offer at least 5% of equity in an IPO. Regulators have proposed lowering this threshold to 2.5%, but the change is yet to receive final approval. RIL is said to be keen onasmallerfloat,given the scale of thebusiness,asa limited sup-plyofshares could help sharpen price discovery at listing.