IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

Jio Platforms Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jio-platforms-ltd" target="_blank" data-smartkarma-citation="entities:50269:1" rel="noopener">Jio Platforms Ltd (1797135D IN)</a>, India’s largest digital connectivity player, has filed its DRHP seeking to raise about US$4 billion.   </li>
<li>Jio is the market leader, holding a 49.95% market share in wireless broadband. It is also the largest fixed broadband service provider in India.</li>
<li>The investment case is bullish due to its scale, peer-leading revenue growth, strong user retention, top-tier operating margin, cash generation and low leverage.</li>
</ul>



Jio Platforms Ltd (1797135D IN), India’s largest digital connectivity player, has filed its DRHP seeking to raise about US$4 billion.   
Jio is the market leader, holding a 49.95% market share in wireless broadband. It is also the largest fixed broadband service provider in India.
The investment case is bullish due to its scale, peer-leading revenue growth, strong user retention, top-tier operating margin, cash generation and low leverage.


Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

<ul>
<li>This insight discusses about the broad structure of upcoming IPO of <a href="https://www.smartkarma.com/entities/jio-platforms-ltd" target="_blank" data-smartkarma-citation="entities:50269:1" rel="noopener">Jio Platforms Ltd (1797135D IN)</a>
</li>
<li>It discusses about the company profile, shareholders &amp; Financial Snapshot.</li>
<li>We also discuss about initial comparison with <a href="https://www.smartkarma.com/entities/bharti-airtel-ltd" target="_blank" data-smartkarma-citation="entities:953:1" rel="noopener">Bharti Airtel (BHARTI IN)</a> on few parameters</li>
</ul>


This insight discusses about the broad structure of upcoming IPO of Jio Platforms Ltd (1797135D IN)

It discusses about the company profile, shareholders &amp; Financial Snapshot.
We also discuss about initial comparison with Bharti Airtel (BHARTI IN) on few parameters


Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Forensic Accounting

<ul>
<li>Jio Platforms has filed its DRHP for a fresh issue of up to 270 million shares, with no offer-for-sale in the initial filing.</li>
<li>Jio Platforms’ IPO papers have put number on Mahendra Nahata’s long-running Reliance association. His family owns 0.536% in Jio-Platforms by investing INR 48Crs which is now valued at ~INR 5,800Crs.</li>
<li>The governance question is simple: did the 2020 low-cost share conversion merely recognise legacy rights, or did it transfer significant value to an old ally just before global investors entered?</li>
</ul>


Jio Platforms has filed its DRHP for a fresh issue of up to 270 million shares, with no offer-for-sale in the initial filing.
Jio Platforms’ IPO papers have put number on Mahendra Nahata’s long-running Reliance association. His family owns 0.536% in Jio-Platforms by investing INR 48Crs which is now valued at ~INR 5,800Crs.
The governance question is simple: did the 2020 low-cost share conversion merely recognise legacy rights, or did it transfer significant value to an old ally just before global investors entered?


Jio Platform Governance: How HFCL Promoter Made 5800Crs?

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jio-platforms-ltd" target="_blank" data-smartkarma-citation="entities:50269:1" rel="noopener">Jio Platforms Ltd (1797135D IN)</a> is looking to raise upto US$3.75bn in its India IPO, which will be run by 19 banks including Citi, MS, JPM, HSBC, GS, and others.</li>
<li>Jio Platforms Ltd (JPL) is a technology and digital services platform company promoted by Reliance Industries, built on a proprietary digital technology stack and pan-India connectivity infrastructure.</li>
<li>Through subsidiary, Reliance Jio Infocomm, the company provides mobile and fixed broadband connectivity to over 524m customers, making it India's largest digital connectivity platform, as per the Analysys Mason Report.</li>
</ul>



Jio Platforms Ltd (1797135D IN) is looking to raise upto US$3.75bn in its India IPO, which will be run by 19 banks including Citi, MS, JPM, HSBC, GS, and others.
Jio Platforms Ltd (JPL) is a technology and digital services platform company promoted by Reliance Industries, built on a proprietary digital technology stack and pan-India connectivity infrastructure.
Through subsidiary, Reliance Jio Infocomm, the company provides mobile and fixed broadband connectivity to over 524m customers, making it India's largest digital connectivity platform, as per the Analysys Mason Report.


Aequitas: Jio Platforms Ltd Pre-IPO Tearsheet

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Biren Technology / Equity Capital Markets

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, <a href="https://www.smartkarma.com/entities/jio-platforms-ltd" target="_blank" data-smartkarma-citation="entities:50269:1" rel="noopener">Jio Platforms</a> is set to launch its US$3bn+ offering this week, while some listings continue to trickle through in Hong Kong. </li>
<li>On the placement front, the HK flows picked up post the holidays and we had a look at a few of the upcoming lockup expiries.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, Jio Platforms is set to launch its US$3bn+ offering this week, while some listings continue to trickle through in Hong Kong. 
On the placement front, the HK flows picked up post the holidays and we had a look at a few of the upcoming lockup expiries.


Aequitas ECM Weekly (12 October 2026)-Wuxi Bio, CIG, CKD, Infroneer, JIO, ESWIN, Tinci, Transsion

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Jio Platforms Ltd (1797135D IN)

Jio Platforms IPO: The Investment Case

Jio Platforms, India’s largest digital connectivity player, has filed its DRHP seeking to raise about US$4 billion. In this note, I discuss the...

Arun George

Jio Platforms IPO - First Cut

Insight on upcoming IPO of Jio Platforms Ltd, including company profile, shareholders, financial snapshot, and initial comparison with Bharti Airtel.

Sreemant Dudhoria

Jio Platform Governance: How HFCL Promoter Made 5800Crs?

Jio Platforms files for IPO with up to 270 million shares, raising questions about legacy rights and value transfer to long-time ally Nahata.

Nimish Maheshwari

Aequitas: Jio Platforms Ltd Pre-IPO Tearsheet

Jio Platforms Ltd (JPL) is looking to raise up to US$3.75bn in its upcoming India IPO. The deal will be run by a consortium of 19 banks including...

Akshat Shah

Aequitas ECM Weekly (12 October 2026)-Wuxi Bio, CIG, CKD, Infroneer, JIO, ESWIN, Tinci, Transsion

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Jio Platforms IPO: The Investment Case

Jio Platforms, India’s largest digital connectivity player, has filed its DRHP seeking to raise about US$4 billion. In this note, I discuss the...

Arun George

Jio Platforms IPO - First Cut

​Insight on upcoming IPO of Jio Platforms Ltd, including company profile, shareholders, financial snapshot, and initial comparison with Bharti Airtel.

Sreemant Dudhoria

Jio Platform Governance: How HFCL Promoter Made 5800Crs?

​Jio Platforms files for IPO with up to 270 million shares, raising questions about legacy rights and value transfer to long-time ally Nahata.

Nimish Maheshwari

Aequitas: Jio Platforms Ltd Pre-IPO Tearsheet

Jio Platforms Ltd (JPL) is looking to raise up to US$3.75bn in its upcoming India IPO. The deal will be run by a consortium of 19 banks including...

Akshat Shah

Aequitas ECM Weekly (12 October 2026)-Wuxi Bio, CIG, CKD, Infroneer, JIO, ESWIN, Tinci, Transsion

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Insight on upcoming IPO of Jio Platforms Ltd, including company profile, shareholders, financial snapshot, and initial comparison with Bharti Airtel.

Jio Platforms files for IPO with up to 270 million shares, raising questions about legacy rights and value transfer to long-time ally Nahata.