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Jio Platforms targets about $114 billion valuation for IPO
The telecom and digital services unit plans to open the IPO the week of Oct. 19 and list before Oct. 30, aiming to rank behind parent Reliance in market value.
Jio Platforms Ltd. is expected to seek a valuation of about 11 trillion rupees, or $114 billion, for its planned initial public offering, according to people familiar with the matter cited by LiveMint.
The valuation target would come after the company finished gauging demand and is set to begin meetings with potential investors this week to discuss pricing and valuation, with deliberations still ongoing and final terms subject to change, the outlet said.
Jio Platforms is looking to open its IPO the week of Oct. 19 and list before Oct. 30, and the planned valuation would make it India’s third most valuable publicly traded company behind parent Reliance, LiveMint reported.
If completed at the targeted valuation, Jio Platforms would be valued slightly below Bharti Airtel Ltd., which is estimated at about $116 billion, according to the same report.