The much-anticipated initial public offering (IPO) of Jio Platforms Limited is poised to make history as India’s largest public issue. This significant financial event is being expertly guided by an array of distinguished legal advisors, including Shardul Amarchand Mangaldas & Co, Cyril Amarchand Mangaldas, Latham & Watkins LLP, and White & Case LLP.
Shardul Amarchand Mangaldas & Co assumes the role of lead legal counsel for Jio Platforms, advising on Indian law. The team, led by Partner Nikhil Naredi, features Principal Associate Chinmay Sethia, along with a group of talented associates including Ankita Singh, Najeeb Din, and others, under the strategic supervision of Prashant Gupta, Partner and National Practice Head of Capital Markets.
In parallel, Cyril Amarchand Mangaldas is also providing crucial legal counsel to Jio Platforms on Indian regulations. Under the leadership of Senior Partners L Viswanathan, Yash J Ashar, and Manan Lahoty, the Cyril Amarchand Mangaldas team is spearheaded by Devaki Mankad, Partner and Regional Co-Head of Capital Markets, West. The team comprises Principal Associates like Rushab Dhandokia and Jhalak Shah, supported by a dedicated group of Senior Associates and Associates.
On the international front, Latham & Watkins LLP is advising Jio Platforms as their international legal counsel. Meanwhile, White & Case LLP is engaged by the book-running lead managers for the IPO, guiding the process under Rule 144A and Regulation S. The White & Case team is led by partners Rahul Guptan from London and Kaya Proudian from Singapore, alongside partners and associates from New York, Hong Kong, and other strategic locations.
The draft red herring prospectus (DRHP) reveals that Rajagopal Venkatakrishnan was appointed as General Counsel of Jio Platforms as of June 1, 2026. With over three decades of experience and a longstanding association with the Reliance Group since 2015, Venkatakrishnan’s appointment is seen as a strategic move.
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The DRHP also highlights the involvement of key independent directors on the board of Jio Platforms, including Khaitan & Co’s Managing Partner Haigreve Khaitan and AZB & Partners’ Co-founder and Managing Partner Zia Jaydev Mody.
Reflecting on Jio Platforms’ previous financial maneuvers, during the Covid-19 pandemic in 2020, the company successfully raised ₹1,52,056 crore within six months, attracting investments from global giants such as Facebook, Google, Qualcomm, Intel, and private equity majors like KKR, ADIA, TPG, and Silver Lake.
The current IPO involves a fresh issue of up to 270 million equity shares, each with a face value of ₹10. While the DRHP does not specify the price band or final issue size, reports from Reuters suggest that Jio Platforms is aiming to raise approximately $3.8 billion, potentially setting a new benchmark for India’s public issues.
