Jio IPO: Meta, Google sit on nearly ₹1 lakh crore paper profit & neither is selling

Meta Platforms Inc. and Google could be sitting on a combined paper profit of nearly ₹1 lakh crore from their 2020 investment in Jio Platforms, based on the upper end of the proposed IPO price band. Neither is selling a single share.

Meta’s Jaadhu Holdings and Google International are together offering no shares in Jio’s planned ₹30,200 crore initial public offering. Instead, the issue will comprise 27 crore new shares, allowing the two global technology companies to retain their stakes while marking their investments at a substantially higher value.