Jio Platforms, the digital and telecom unit of Reliance Industries controlled by billionaire Mukesh Ambani, has received regulatory clearance to move forward with its long-awaited initial public offering. According to the website of the Securities and Exchange Board of India, or SEBI, the regulator issued an observation letter to Jio Platforms during the week ending Aug. 28, clearing a key hurdle in the IPO process. Bloomberg was cited as the source of the report. Jio Platforms has also drawn attention in crypto circles because the company launched JioCoin last year, a rewards token built on the Polygon blockchain. Community users have said the token has been integrated into JioSphere, Jio’s web browser. The development links one of India’s most closely watched listing candidates with a blockchain-based product already associated with its broader digital ecosystem.
Jio Platforms, the digital and telecom business unit of Reliance Industries controlled by billionaire Mukesh Ambani, has received regulatory approval that removes a key obstacle for its long-planned initial public offering.
According to the website of the Securities and Exchange Board of India, or SEBI, the regulator issued an observation letter to Jio Platforms during the week ending Aug. 28. That means the company has been cleared to proceed with the IPO process. Bloomberg was cited in the report.
Jio Platforms’ listing plan has been closely watched by the market. Last year, the company launched JioCoin, a rewards token developed on the Polygon blockchain.
Community users have said the token has been integrated into JioSphere, Jio’s web browser.
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