The Economic Times

Jio IPO: Meta, Google sit on nearly 1 lakh crore paper profit & neither is selling

Meta Platforms and Google are poised to realize significant gains from their Jio investment made in 2020. To bolster its growth, Jio Platforms is moving forward with an initial public offering planned to raise around 30,213 crore, achieving a valuation of 10.3 lakh crore. Neither Meta nor Google plans to divest shares in this round as existing backers maintain their stakes.