Reliance's Jio files for record $4 billion IPO (opens in new tab)

Reliance Industries' digital services arm Jio Platforms filed draft papers with India's markets regulator SEBI on June 19 for an initial public offering expected to become the country's largest share sale. The offering consists of a fresh issue of up to 27 crore equity shares with a face value of ₹10 each, with pricing to be set through a book-building process under SEBI rules. Market estimates put the raise at about $3.8 billion to $4 billion, or roughly ₹36,000 crore to ₹40,000 crore, with ...