Reliance to Offer All New Shares in Jio IPO in U-Turn, ET Says

Reliance Industries Ltd. is planning to offer all new shares in Jio IPO, with investment bankers proposing a valuation of up to $170 billion. This could lead to a record-breaking initial public offering for the company's wireless carrier, Jio Platform Ltd. The move is seen as a significant development in the Indian telecom industry.