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Jio Platforms IPO: Issue opens on October 21, anchor bidding on October 19

Let’s begin with Jio Platforms, whose IPO will open for subscription on October 21 and close on October 23. The company has reserved shares worth up to ₹500 crore for eligible employees and ₹2,500 crore for eligible Reliance Industries shareholders.

CCEA approves IDBI Bank stake sale to Fairfax for ₹52,878 crore; govt, LIC to receive proceeds

Next, the Centre has approved Fairfax Financial Holdings as the strategic buyer for a 60.72 per cent stake in IDBI Bank for ₹52,878 crore. The deal involves shares held by the government and LIC and, once completed, will be the largest foreign direct investment in India’s financial sector.

Netflix to cut 1,000 jobs in biggest layoff round since 2022

Turning to the media sector, Netflix is reportedly cutting around 1,000 jobs, or 6 per cent of its workforce, in its biggest round of layoffs since 2022. The cuts come amid intense competition in the streaming market, following Netflix’s loss to Paramount Skydance in the bidding for Warner Bros Discovery’s streaming and studio assets.

India-Mauritius pact brings in Principal Purpose Test 

Finally, the Finance Ministry has amended the India-Mauritius tax treaty to curb treaty abuse by introducing a Principal Purpose Test. The amendment allows tax authorities to deny treaty benefits if obtaining them was one of the principal purposes of a transaction. Investments made before April 1, 2017, remain outside the scope of the test. The move puts greater focus on the commercial purpose and substance of investment structures routed through Mauritius.

Script & VO: Prethicshaa Gurumoorthy

Published on October 15, 2026