Jio platforms to issue IPO abroad
The Jio platforms limited which is a conglomerate owned by Asia’s largest business magnate Mukesh Ambani is being prepared for Initial Public Offering (IPO) overseas. What is Initial Public Offering? IPOs are used by companies to raise funds for expansion.
Jio platforms is just a six months old company but now the worth of the company is Rs 5.5 trillion. And the firm is big enough to compare itself with big international e-commerce giants like Alphabet, Tencent, Alibaba, etc., It is said that the offering may happen in the next 12 to 24 months but Jio platforms did not decide about the listing venue. And there is no final decision on timeline and size also.
The firm raised funds last week which also included Facebook’s $10 billion investment. As per data KKR&Co is the latest investor of Jio platforms. The Jio platforms also partnered with Silver Lake Partners and General Atlantic. The overseas listing has the potential to give higher valuation to digital business and may pave the way for existing investors to exit.
India is a big consumer market in the e-commerce industry. Reliance digital assets and Reliance Jio Infocomm Limited are combined into a single Jio platform. Many investors are ready to bet on Jio’s access since India is a big consumer market of the e-commerce industry. The international giants like Amazon, Wallmart, and Alphabet Inc are fighting for market share.
The Reliance Jio started in 2016 is the current India’s largest wireless carrier. The firm built a strong 4G data connection nationwide and positioned itself by offering free calling services. The Reliance Jio also served the customers at a dashing low cost in which its competitors cannot even think of.
The Jio platforms by introducing Jiomart has created a fear in great Indian e-commerce giants. Many analysts say that the firm has the potential to disrupt many sectors.
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