India TV

India's largest IPO in the making: How Jio Platforms is set to reshape the stock market landscape

Reliance Jio is officially setting the stage for India's largest initial public offering (IPO) in history, with a size projected between Rs 30,200 crore and Rs 37,700 crore. Significantly, all proceeds from the offering represent new capital flowing directly into Jio and not to existing shareholders selling out. According to the red herring prospectus, proceeds will go toward prepaying borrowings of Reliance Jio Infocomm, the telecom subsidiary, and general corporate purposes.