Jio Platforms readies massive IPO with Reliance Industries 66.43% stake
Jio Platforms is gearing up for a massive IPO, and Reliance Industries still calls the shots with a 66.43% stake.
Meta (through Jaadhu Holdings) and Google are also in the mix, holding nearly 10% and 7.73%, respectively.
Big global investors like Saudi Arabia's Public Investment Fund and VEPF VII AIV I Ltd. an affiliate of funds, vehicles and/or entities managed and/or advised by Vista Equity Partners Management, LLC, are on board too.
Jio seeks ₹37,700cr IPO
This is set to be India's biggest IPO ever: Jio aims to raise ₹37,700 crore by offering 27 crore new shares (priced between ₹1,065-₹1,119 each).
None of the current investors are selling their shares right now.
If you're interested, anchor bidding starts October 19, with public subscription open from October 21 to 23.
The company hopes to hit the stock market by the end of October.