Jio Platforms gets SEBI nod to launch IPO
The public issue could raise around $4 billion (approximately ₹37,700 crore), making it potentially the largest public issue in the country.
Jio Platforms Ltd, a digital services subsidiary of Reliance Industries, has received approval from the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO). The IPO has the potential to raise around $4 billion (approximately ₹37,700 crore), which could make it the largest public issue in the country.
The company filed its draft papers with SEBI in June for the proposed public offering. SEBI provided its final observations on the matter on August 28, marking a crucial step in the IPO process. Once the company receives SEBI's approval, it can proceed with further preparations for the public issue, provided all regulatory requirements are met.
The Draft Red Herring Prospectus (DRHP) indicates that Jio Platforms plans to offer up to 27 crore fresh equity shares, representing approximately 2.9 percent of the company's total equity base after the issue. With this approval, Jio Platforms can now move forward with its highly anticipated public offering, which is expected to attract significant investor interest and draw attention from the broader market.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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