Reliance Jio hires banks for IPO, no new capital to be raised: Report
India Today
The IPO is expected to be structured as an "offer for sale" (OFS). This means existing investors will sell a part of their stake to the public, rather than the company issuing new shares.
India’s telecom and digital giant Reliance Jio Platforms is moving closer to its much-awaited stock market debut. According to sources, the company has appointed 17 banks to manage its proposed listing in Mumbai, reported Reuters. Interestingly, the initial public offering (IPO) will not raise any new funds for the company.
The IPO is expected to be structured as an “offer for sale” (OFS). This means existing investors will sell a part of their stake to the public, rather than the company issuing new shares.
The company, backed by billionaire Mukesh Ambani, has not officially commented on the development so far.
Over the past few years, Jio has attracted investments from several big investors, including KKR, General Atlantic, Silver Lake and Abu Dhabi Investment Authority.
While Jio started as a telecom operator, it has steadily expanded into digital services and artificial intelligence (AI). The company is positioning itself as a broader technology platform, aiming to tap into India’s growing digital economy.
The IPO is expected to be closely watched by the market, not just because of Jio’s scale, but also due to its unique structure. Investors will be keen to see how the listing shapes the future of one of India’s most valuable digital businesses.
The acquisition signals a major consolidation in India's online education space, bringing together two leading edtech players under a unified, AI-driven growth strategy.
This is the second story in Lock & Key, a series examining how India's bank locker system works and what customers should know before trusting their valuables to a steel vault.
IndiGo to impose Rs 425-Rs 2,300 fuel surcharge on flights from March 14
Quick commerce has become the go-to option for instant groceries and food deliveries. But with LPG prices rising and supply concerns growing, the cost pressure may be building behind the scenes. Could this soon make your quick commerce orders costlier? Let's have a look.
Sensex has declined over 6,000 points or roughly 7.5% in a little over two weeks as global tensions and rising oil prices triggered selling in equities.
Speaking in Parliament, Union Petroleum and Natural Gas Minister Hardeep Singh Puri said India has adequate fuel stocks, and there is no cause for concern over availability.
Industry sources told India Today TV that airline operators are now paying additional insurance charges for every aircraft flying into the Middle East, significantly increasing the cost of operations on these routes.
Under law, a domestic household is generally allowed to keep two LPG cylinders of 14.2 kg each at a time. This usually includes one cylinder connected for use and another spare cylinder kept as backup.