
Why is Mukesh Ambani of Reliance Group looking at an international IPO for Jio Platforms?



With some marquee investors investing in Jio Platforms in last one month, Reliance Industries is most likely looking at an overseas listing for Jio Platforms. Incidentally, Jio Platforms is the digital arm of the Reliance group. In last one month, Reliance sold close to 17.2% stake in Jio Platforms to Facebook, Silver Lakes, Vista Equity, General Atlantic and KKR for a consideration of $10.2 billion. This has valued the company at closer to $63 billion even in these difficult markets. The global IPO offering is expected to happen in the next couple of years. The size of the issue and the exchange where it will be listed are yet to be finalized. Jio Platforms is a combination of all the digital properties and wireless business of the RIL group. A number of global investors including the Saudi Sovereign Fund have shown interest in taking a stake in Jio. Clearly, the company believes that an issue of that size can get better traction in the global markets.


