Ambani's Jio Platforms IPO Pivots to Pure Fundraise in Mumbai

Ambani's Jio platforms IPO pivots to pure fundraise in Mumbai

Mumbai: Indian billionaire Mukesh Ambani's Reliance Jio Platforms has pivoted to a pure fundraise for its planned Mumbai listing, dropping earlier plans that would have allowed some shareholders to exit, two sources said."Given the uncertainty in markets due to the situation in West Asia, investors have chosen to stay invested in the company rather than use the IPO as an exit opportunity," one of the sources said.Ambani's Jio Platforms, which ho…

Jio Platforms IPO To Be Entirely Fresh Issue: Report

Reliance Industries Ltd’s (RIL) digital arm Jio Platforms is reportedly revamping the contours of its IPO, with the public issue now likely to comprise only a fresh issue as against the earlier plans of just offer for sale.  The reason for the change is conflict of opinions among existing investors over IPO price, ET reported, citing sources. “There is an inherent conflict of interest which is unique to Jio… Shareholders want to price the issue …

Ambani's Jio Platforms IPO pivots to pure fundraise, no investor exits, sources say

MUMBAI, May 11 (Reuters) – Indian billionaire Mukesh Ambani’s Reliance Jio Platforms has pivoted to a pure fundraise for its planned Mumbai listing, dropping earlier plans that would have allowed some shareholders to exit, two sources said. “Given the uncertainty in markets due to the situation in West Asia, investors have chosen to stay invested in the company rather than use the IPO as an exit opportunity,” one of the sources said. Ambani’s ​J…