Jio Platforms gets nod for $4 billion IPO, India’s biggest ever
Jio Platforms Ltd, a subsidiary of Reliance Industries, has received SEBI approval for a public offering expected to raise around Rs 37,700 crore (approximately $4 billion). This IPO will feature a fresh issue of 27 crore equity shares, with proceeds primarily allocated to debt repayment and corporate purposes. Jio, with over 524 million subscribers, has transformed India's telecom sector since 2016. The IPO has attracted significant attention, being the largest in India to date.
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