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

What happened: Meta's Jaadhu Holdings and Google International are offering no shares in Jio's planned IPO. The issue comprises 27 crore new shares, letting both retain their stakes. Key numbers: IPO price band upper end ₹1,119 per share. Meta and Google were allotted shares at ₹488.34 in 2020. Meta holds 89.23 crore shares, Google 69.09 crore. Why it matters: The primary-only structure gives Jio fresh capital while early backers keep exposure and do not monetise gains. At the upper price band, Meta and Google's stakes would be worth more than twice their original cost.

Meta's Jaadhu Holdings and Google International are offering no shares in Jio's planned IPO. The issue comprises 27 crore new shares, letting both retain their stakes.

The primary-only structure gives Jio fresh capital while early backers keep exposure and do not monetise gains. At the upper price band, Meta and Google's stakes would be worth more than twice their original cost.