Jio Platforms is preparing for the biggest IPO in India’s history
Jio Platforms is set to go public for the first time, with an IPO billed as the largest in Indian history. Mukesh Ambani’s digital and telecoms group aims to raise 302 billion rupees – equivalent to 3.2 billion dollars – in a deal that speaks volumes about Jio’s standing beyond its role as a mere mobile operator. The offering begins on Wednesday and is due to close on Friday. Reliance Industries, the parent company… of Jio Platforms, intends to use the proceeds to repay the loans taken out to build and expand Reliance Jio Infocomm, India’s leading private telecoms operator. This IPO comes at a time when the Indian stock market remains fragile. The Nifty 50, the NSE’s benchmark index, is down by more than 12 per cent this year.…