Jio Platforms Secures SEBI Approval for Major IPO
Jio Platforms is set to launch India's largest IPO after receiving SEBI's green light.
KEY TAKEAWAYS
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SEBI approves Jio Platforms' IPO
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Potential valuation of ₹9.5 lakh crore
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IPO could raise ₹37,700 crore
Jio Platforms, a subsidiary of Reliance Industries, has received approval from SEBI for its initial public offering (IPO), which is anticipated to be the largest in India’s history. The company plans to issue up to 27 crore new shares as part of this public offering.
With significant stakes held by Meta and Google at 17.71% and 33.57% respectively, Jio's IPO is projected to raise approximately ₹37,700 crore, potentially valuing the company at ₹9.5 lakh crore post-IPO. This move marks a significant milestone in the Indian financial market.
