cnbc.com

Jio Platforms Wins Regulatory Approval for Potential Record IPO

Meta Platforms (Facebook) logoMeta Platforms (Facebook)
Sig4.44Sen+2.88Env0.00Soc0.00Gov+1.12
Alphabet (Google) logoAlphabet (Google)
Sig4.40Sen+2.10Env0.00Soc0.00Gov+1.20

Jio Platforms has secured regulatory approval for a public issue that could become India’s largest IPO, with estimated proceeds of about 377 billion rupees ($3.9 billion). Reliance Industries holds over 66%, while Meta’s affiliate Jaadhu Holdings has nearly 10% and Google International 7.7%, and neither plans to sell. Funds will help reduce debt at Reliance Jio Infocomm.

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