Jio Gets SEBI Nod for India's Largest-Ever IPO; Navi Raises $100M from Prosus

Jio Platforms received SEBI approval on August 28 for its upcoming IPO, which is expected to be India's largest-ever public listing with a target raise of approximately ₹37,700 crore at a valuation of around $137 billion. The offering consists entirely of fresh equity shares, with pricing and listing dates yet to be announced. Meanwhile, Sachin Bansal's fintech firm Navi secured $100 million from Prosus — its first external funding round in eight years of operating solely on founder capital — pushing its valuation to approximately $1.3 billion. On the broader funding front, Indian startup fundraising trackers reported widely varying weekly totals ranging from $198 million to $469 million, highlighting how methodology and startup definitions affect reported figures. India's government continues to push AI infrastructure investment, with the IndiaAI Mission allocating $1.25 billion and subsidising over 38,000 GPUs for startups and researchers as part of an ambition to attract $200 billion in AI investment by 2028.