Jio Platforms, the digital and telecom arm of Reliance Industries controlled by billionaire Mukesh Ambani, has received regulatory clearance that allows it to move ahead with its long-awaited initial public offering, according to Bloomberg. The update appeared on the website of the Securities and Exchange Board of India, or SEBI, which showed that the regulator issued an observation letter to Jio Platforms within the past week. That letter indicates the company has been cleared to proceed with the IPO process. Jio Platforms’ listing plan has drawn sustained market attention. The company also has a crypto-related angle: last year, it introduced JioCoin, a rewards token built on the Polygon blockchain. Community users have said the token has been integrated into JioSphere, Jio’s web browser.
Jio Platforms, the digital and telecom arm of Reliance Industries controlled by billionaire Mukesh Ambani, has received regulatory approval that removes a key hurdle for its long-prepared initial public offering, according to Bloomberg.
The website of the Securities and Exchange Board of India (SEBI) shows that the regulator issued an observation letter to Jio Platforms within the past week, indicating that the company has been cleared to move forward with the IPO process.
Jio Platforms’ listing plan has been closely watched by the market. Last year, the company launched JioCoin, a rewards token built on the Polygon blockchain. Community users have said the token has been integrated into JioSphere, Jio’s web browser.
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