Reliance Industries Chairman Mukesh Ambani announced that Jio Platforms' IPO document has been approved by the board and will be filed with SEBI today. The listing will be led by Isha, Anand, and Akash Ambani.
The plans to list Jio Platforms have been in the works for some time, marking the first listing from Reliance Industries in nearly two decades.
Jio's IPO aims to raise money by selling 270 million shares of face value 10 rupees each, with the company looking to become publicly traded.
The government's recent modification of norms allowing companies with a post-issue valuation exceeding 5 trillion rupees to list by diluting a minimum of 2.5% equity has given momentum to Jio's IPO plans.
