India’s Biggest IPO, Groww’s Q2 Profit Run & More
Jio All Set For Its Mega IPO Reliance’s digital crown is heading down the Dalal Street. In what could be…
India's Jio Platforms has set its sights on the biggest IPO in the country's history, filing for a ₹30,213 Cr listing with SEBI. The digital giant, which holds a monopoly on India's wireless market, will auction 27 Cr equity shares at a price band of ₹1,065 to ₹1,119 per share. Reliance Industries owns 66.43% of the company, while tech giants Meta and Google hold 9.98% and 7.73%, respectively.
Jio Platforms plans to use a significant portion of the IPO proceeds to repay borrowings and for corporate purposes. The company's strong financial growth, massive subscriber base, and expansion into AI, data centers, and SaaS could unlock new revenue streams. However, its sky-high valuation and heavy capex for satellite rollout and infrastructure upgrades may raise concerns among investors.
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