Jio hires 19 banks for IPO, among the highest-ever for a single offering

Jio Platforms has appointed 19 investment banks as book-running lead managers (BRLMs) for its initial public offering, according to the draft red herring prospectus filed on Friday. The number of BRLMs is among the highest ever for a single public offering, Moneycontrol reported. Kotak Mahindra Capital Company, Morgan Stanley India, BofA Securities, and Axis Capital are among the appointed BRLMs.