Meta and Google Hold ₹1 Lakh Crore Profit in Jio IPO
· Business · Economic Times
Meta Platforms and Google are set to hold unrealized gains of nearly ₹1 lakh crore from their 2020 investments in Jio Platforms, based on the proposed IPO price band. Neither company plans to sell shares during the upcoming ₹30,213 crore initial public offering. Jio is targeting a valuation of ₹10.3 lakh crore, with the issue consisting entirely of new shares. Meta and Google currently hold 89.23 crore and 69.09 crore shares respectively, and will retain their stakes as the company goes public.
Why it matters
The decision by major tech investors to hold their stakes signals strong long-term confidence in Jio's growth trajectory and valuation, which is a key indicator for retail investors ahead of the IPO.
Read the original report — Economic Times
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