Reliance Jio Platforms, the digital arm of Reliance Industries led by billionaire Mukesh Ambani, has initiated discussions with key global investors such as Meta and Google to pare their holdings ahead of its planned initial public offering, according to a Reuters report.
Reliance Jio Platforms In Talks With Meta, Google To Dilute 8% Of Individual Stakes In IPO
Reliance Jio Platforms IPO: The company has approached around 13 large foreign investors to explore whether they are willing to sell up to 8 per cent of their stakes as part of the IPO
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The proposed share sale is part of the offer-for-sale (OFS) component of the IPO, where existing investors dilute a portion of their stake rather than the company issuing fresh equity.
People aware of the development told Reuters that Jio has approached around 13 large foreign investors to explore whether they are willing to sell up to 8 per cent of their stakes as part of the IPO.
The IPO, for which the company plans to file draft papers as early as the end of this month, is widely expected to be the largest public offering in India’s history.
This is a developing story...
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