Jio IPO moves closer as SEBI approves ₹37,700 crore issue
- Jio Platforms has received SEBI approval to launch its IPO, bringing Reliance’s telecom and digital arm closer to a stock-market debut.
- The IPO is expected to raise around ₹37,700 crore, which could make it India’s biggest-ever public issue.
- Jio plans to issue up to 27 crore new shares, with the final IPO price yet to be decided.
- A large part of the money raised — around ₹27,500 crore — will be used to repay debt at Reliance Jio Infocomm.
Source: economictimes.indiatimes.com
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