Reliance Industries’ subsidiary is set to launch its Reliance Jio IPO. Much is being reported about the $73 billion venture.
So far, we know that 17.2% stake has been sold to key global players for Rs 78,562 crore. These stakeholders also include Facebook, which bought as 9.9% stake in Jio Platforms.
On May 17th this year, India’s Finance Minister Nirmala Sitharaman had announced that Indian companies may be allowed direct listings in foreign stock exchanges. This has allowed Jio to also consider this as an option. According to sources, Jio might be getting listed at NASDAQ, which is the premier stock exchange for tech companies in the United Staes.
Mukesh Ambani-Led RIL Is Preparing For Overseas IPO Of Jio Platforms, Likely To Opt For NASDAQ: Reports https://t.co/cHo7uBlLQi via @swarajyamag
— Prasanna Viswanathan (@prasannavishy) May 27, 2020