Reliance Jio's $4B IPO reworked as fresh issue; DRHP filing seen within two weeks
India's largest-ever IPO at ~$4B is being restructured as a fully fresh issue after pricing disputes with investors. RIL retains 67% stake post-listing, with Meta (9.99%) and Google (7.73%) holding from 2020's ₹1.52 lakh crore raise. Listing expected to unlock value across Reliance conglomerate and reduce ₹25,000 crore in debt.
Reliance Jio's IPO, potentially India's biggest at $4 billion, is being reworked as a fully fresh issue after pricing disputes with investors. RIL retains 67% control; listing expected to unlock value across Reliance conglomerate.