Jio Platforms secures SEBI approval for Rs 37,700 crore IPO, India's largest ever
Jio Platforms has received regulatory clearance from SEBI to proceed with its initial public offering. The company plans to raise up to four billion dollars, making it the largest stock market listing in India's history. The IPO is structured as a pure primary issue, meaning all proceeds will be used to pay down existing debt rather than provide exits to existing shareholders. Reliance Industries, which holds a majority stake in Jio Platforms, stands as the parent company behind this landmark offering.
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