Regulatory hurdle clears for Reliance Jio’s IPO

The Indian government approved a regulatory change to lower the minimum public shareholding requirement for large companies to 2.5% from the earlier requirement of 5%, a move that will clear the way for the IPO of Gulf SWF backed Reliance Jio Platforms. Companies with a post-listing valuation exceeding INR 5 tn are now required to sell a minimum 2.5% of their paid-up capital, Reuters reports.

Why it matters: The immediate beneficiary of this policy is Reliance Jio Platforms which is backed by Abu Dhabi Investment Authority, Mubadala, and Saudi Arabia’s PIF. Reliance Jio is looking to sell a 2.5% stake to raise over USD 4.5 bn through a listing in 1H 2026, with some foreign investors looking to exit.

Coca Cola’s India arm moves towards listing

Coca Cola is preparing to list its Indian bottling arm, Hindustan Coca-Cola Beverages (HCCB), in an IPO targeting a valuation of USD 10 bn. The beverage giant plans to raise some USD 1 bn and has tapped Kotak, HDFC Group, and Citibank to manage the issuance.

The pattern: This is the latest signal that global multinationals are rushing to India’s equity markets to raise fresh capital to fund local expansion or repatriate capital. The move follows Hyundai Motor India’s record USD 3.3 bn IPO and LG Electronics’ USD 1.3 bn listing, cementing a trend of multinational consumer brands unlocking value in their Indian subsidiaries.

Listing plans: The groundwork for the listing was laid over a year ago when Coca-Cola sold a 40% stake in HCCB’s parent entity to the Jubilant Bhartia Group. While the firm is planning the market debut later this year, it may delay the plans to 2027 if demand tapers over the summer.

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