Jio Platforms plans to start taking IPO orders on October 21 and begin trading a week later, according to Reuters, which cited two people familiar with the plans. Selling up to 27 crore new shares would bring in about $3.8 billion, more than Hyundai Motor India’s $2.9 billion listing in 2024 and the most for any Indian IPO. Most of that money will go toward paying off debt at Reliance Jio Infocomm, the group’s telecom carrier. Reliance Industries owns about 66% of Jio Platforms, while Meta and Google hold roughly 18% between them. Jio Platforms managing director Akash Ambani said the listing obliges the company to earn a return for its shareholders, retail buyers included.
