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BusinessReliance Jio is preparing for the IPO of Jio Platforms, potentially setting a historic record. Chairman Akash Ambani stressed the responsibility to deliver value to shareholders, especially retail investors. The company aims to share value created with Indian citizens through this public issue. Jio's valuation is estimated between $110 billion and $140 billion, with plans to raise about $4 billion.
Economic Times·
WorldFrom October 10, vehicular movement will be restricted for 20 days on Basavanagar Main Road in Bengaluru due to bridge construction over the Vibhutipura Lake stormwater drain. Heavy goods vehicles, BMTC and school buses, and light goods vehicles from Marathahalli, HAL, Vibhutipura, and Basavanagar towards Vignan Nagar, Kaggadasapura, Malleshpalya, and BEML will be diverted. Traffic in the opposite direction will also face restrictions. Alternative routes via Old Airport Main Road and Suranjan Das Road are suggested.
Deccan Herald··Bengaluru
PoliticsThe Trump administration has suspended Microsoft and major Indian IT firms like Infosys, TCS, Wipro, HCL, and Cognizant from the US Permanent Labor Certification (PERM) program. PERM is a key step for skilled foreign workers seeking US permanent residency. The administration alleges these companies abused the system to replace American workers with cheaper foreign labor. Vice President JD Vance announced the suspension on October 8 as part of a broader crackdown on skilled foreign labor.
Mint·
EntertainmentNana Patekar was cremated in Pune with full state honours following his death from cardiac arrest. His family conducted the last rites on the same day. Numerous fans and film industry figures attended the ceremony. Maharashtra's Chief Minister and Deputy Chief Minister visited his farmhouse to offer condolences.
TOI Entertainment··Pune
SportsSan Diego Padres pitcher Michael King, 31, must decide whether to exercise his player option for the 2027 season or opt out and become a free agent. King has two seasons left on his $75 million contract, with a $28 million salary option for 2027 and a $30 million option for 2028. He expressed strong ties to San Diego, calling it his second home after three seasons.
HT Sports··San Diego
WorldThe Commissioner of Metro Railway Safety (CMRS), V Venkatasubramanian, completed a three-day safety inspection of Bengaluru's 7.5-km elevated Pink Line from Kalena Agrahara to Tavarekere. The inspection included motor trolley checks, depot facility reviews, train trials, and Operations Control Centre evaluation. BMRCL previously secured speed certification and provisional approvals for rolling stock and signalling systems.
Deccan Herald··Bengaluru
Economic Times·
Reliance Jio is preparing for the IPO of Jio Platforms, potentially setting a historic record. Chairman Akash Ambani stressed the responsibility to deliver value to shareholders, especially retail investors. The company aims to share value created with Indian citizens through this public issue. Jio's valuation is estimated between $110 billion and $140 billion, with plans to raise about $4 billion.
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