Jio Platforms gets Sebi nod for $3.8bn IPO, may be India's largest listing

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Jio Platforms has received regulatory approval from Sebi for a $3.8 billion initial public offering. The listing could become the largest in India's stock market history. The company intends to issue fresh shares to raise around $4 billion to support its business operations. A significant portion of the proceeds is earmarked for paying down debt at its telecom subsidiary, Reliance Jio Infocomm. The IPO comes at a time when activity in India's primary equity market is seeing a strong rebound.

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