SEBI has also sought clarification from fintech firm Razorpay Software, which confidentiality filed its draft papers on June 13.  | Photo Credit: Ildo Frazao

The Securities and Exchange Board of India (SEBI) has sought clarifications from Jio Platforms and Razorpay Software on their draft red herring prospectus (DRHP) filed with the regulator last week.

Jio’s proposed initial public offering (IPO) comprises an entirely fresh issue of up to 27 crore equity shares with no offer-for-sale component. The company is expected to raise around ₹35,000 crore, possibly making it one of the largest public issues of the year.

Razorpay Software

SEBI has also sought clarification from fintech firm Razorpay Software, which confidentiality filed its draft papers on June 13. This is part of the market regulator’s routine procedure of seeking additional information before giving final approval.

The markets regulator has also given its nod for consumer electronics retailer Sathya Agencies, transformer manufacturer Kanohar Electricals and city gas distributor Torrent Gas to launch their public offerings.

Sathya Agencies, which plans to raise ₹600 crore through a ₹300-crore fresh issue and a ₹300-crore offer for sale (OFS) had filed its draft papers with SEBI in March.

Kanohar Electricals

Kanohar Electricals, which has proposed a ₹300-crore fresh issue along with an OFS of 1.45 crore shares, had filed its papers with SEBI in January. Torrent Gas, which filed its papers through the confidential route in March, is yet to disclose the size of its proposed issue.

The regulator issued its observations for the three companies between June 22 and June 25, allowing them to proceed with their IPOs.

Published on June 25, 2026