Reliance Jio is officially setting the stage for India’s largest initial public offering (IPO) in history, with a size projected between Rs 30,200 crore and Rs 37,700 crore. Significantly, all proceeds from the offering represent new capital flowing directly into Jio and not to existing shareholders selling out. According to the red herring prospectus, proceeds will go toward prepaying borrowings of Reliance Jio Infocomm, the telecom subsidiary, and general corporate purposes.
While Saudi Arabia continues struggling against Yemen-based Houthis, US President Donald Trump has indicated that the kingdom might accept assistance from Israel to deal with the Iran-backed militia, stressing it might help in reviving efforts to bring Riyadh into the Abraham Accords.
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In a world where differences are sometimes used to divide people, a Muslim family from Meerut is quietly keeping alive a beautiful tradition in Shimla. For nearly two decades, the family has travelled to the hill town to craft effigies of Ravana, Kumbhakarana and Meghnad for Dussehra, spreading a message of communal harmony through their work.
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