Jio Platforms, India's largest digital and telecom operator, has received regulatory approval for its initial public offering, according to a report from CNBC. The approval marks a significant step forward for the company, which counts Meta and Google among its backers.
The National Stock Exchange, another mega issue, is still awaiting regulatory clearance, according to the same report. The NSE's IPO has been anticipated as one of the largest in India's market history.
Regulatory green light for Jio
The regulatory nod for Jio Platforms comes after a lengthy review process. The company, which operates India's largest telecom network and digital services, is now cleared to proceed with its public listing. The exact timeline for the IPO has not been disclosed.
NSE's pending approval
In contrast, the National Stock Exchange's IPO remains in regulatory limbo. The exchange, which is a key player in India's financial markets, has yet to receive the necessary clearance. The delay underscores the scrutiny applied to large public offerings in the country.
What happens next
The next step for Jio Platforms is to set a date for the IPO and file the final prospectus. Investors will be watching for the pricing and valuation details. For the NSE, the question remains when regulatory approval will come, and whether its issue will proceed this year.