Jio IPO: Co set to begin investor outreach later this week, say sources

Jio Platforms, the digital services arm of Reliance Industries, has received Sebi approval and is set to begin investor outreach by the end of this week across global financial centres including the US, Hong Kong, Singapore and the UK. The IPO, valued at about USD 137 billion, will be India's largest stock-market listing and the first from the Reliance group since 2008. Jio plans to issue up to 27 crore fresh equity shares, roughly 2.9 percent of post-issue equity, with proceeds primarily aimed at repaying about Rs 27,500 crore of borrowings at subsidiary Reliance Jio Infocomm.