Jio's monster IPO may trump NSE's
New Delhi/Mumbai, June 20 -- The stage is set for what promises to be India's biggest public share sale, with Jio Platforms Ltd filing draft papers for its long-awaited initial public offering (IPO).
On Friday, the digital arm of Reliance Industries Ltd filed the draft red herring prospectus (DRHP) to sell 270 million fresh equity shares, while all existing investors, including parent Reliance Industries Ltd (RIL) as well as marquee names like Meta and Google will hold on to their shares.
Jio plans to use up to Rs.27,500 crore from the funds raised to prepay certain borrowings of its material subsidiary Reliance Jio Infocomm Ltd, which operates India's largest telecom services provider.
People directly aware of the matter said on the condit...
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