Jio IPO! RIL arm gets Sebi nod for ₹37,700 cr issue
Reliance Industries' Jio Platforms has secured regulatory approval for its highly anticipated initial public offering (IPO), taking a significant step towards a potential public listing. The IPO, valued at around Rs 9.5 trillion, could position Jio as one of India's largest-ever public offerings. The proposed issuance of up to 27 crore shares, with no OFS component, will be distributed between Qualified Institutional Buyers (QIBs) and retail investors.
The funds raised are intended to prepay debts of RJIL and serve general corporate purposes. Prominent investors include Reliance Industries, Meta, Google, Saudi Arabia's Public Investment Fund, and several others.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
