Jio Returns for Meta, Alphabet, KKR Crimped by Long Rupee Slide

As Mukesh Ambani prepares for India's biggest-ever IPO, early global backers of Jio Platforms Ltd., including Meta, Alphabet, and KKR, see relatively modest returns, partly due to the rupee's relentless multiyear slide. The currency depreciation has eroded gains for foreign investors, highlighting challenges in India's market despite its growth potential.