Reliance to keep control of Jio after IPO as stake falls to 64.5%

Jio Platforms is raising about Rs 30,000 crore in its IPO, mostly to repay debt. Reliance Industries will retain control, with its stake dropping from 66.4% to 64.5%. Moody's called the listing credit positive for RIL.

• Jio Platforms IPO raises about Rs 30,000 crore
• Reliance stake in Jio to fall from 66.4% to 64.5%
• Most proceeds earmarked for debt repayment
• Moody's sees the IPO as credit positive for RIL