business / news / / CNBC TV18
Reliance Jio Platforms has pivoted to a pure fundraising for its planned Mumbai listing.
Jio Platforms will now raise funds by selling a 2.5% stake in its Mumbai IPO.
KEY POINTS
- Earlier IPO plans for existing investors to exit have been dropped due to investor reluctance.
- Foreign investors were asked to sell 8% of their stakes but chose to stay invested.
- Jio's IPO strategy has shifted from an offer-for-sale to a pure fundraising approach.
COMPANIES
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