Ambani's Jio Plans $3.2B Raise in Potentially India's Largest IPO
Reliance Jio, the telecom arm of Mukesh Ambani's conglomerate, is seeking to raise $3.2 billion through an initial public offering. If completed, the offering could rank as the largest IPO in India's history. The company intends to use most of the proceeds to pay down debt. The move comes as Jio expands its business beyond telecommunications.
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