Jun. 19 at 8:54 PM
India’s largest telecom and digital services provider, Jio Platforms, has filed draft papers for an initial public offering, marking what could become one of the biggest IPOs in the country’s history.
The company, controlled by billionaire Mukesh Ambani’s Reliance Industries (which holds a little over 66%), plans to issue up to 270 million shares. Proceeds from the offering are expected to be used primarily to reduce debt at its subsidiary Reliance Jio Infocomm, India’s largest wireless operator.
Jio Platforms is a major digital infrastructure player, operating Reliance Jio Infocomm, which serves more than 526 million subscribers and holds roughly half of India’s broadband and wireless market. The shareholder base also includes global tech giants, with Google owning about 7.7% and Meta nearly 10%.
Ambani has framed the listing as a milestone for India’s tech sector, arguing it would demonstrate the country’s ability to build global-scale technology companies.
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