Jio Platforms Ltd is reportedly attracting strong interest from global investors ahead of a potential initial public offering (IPO), with bids exceeding $20 billion. The proposed share sale could become the largest IPO in India's history. Several prominent international investment firms, including Fidelity, Allianz and Capital Group, have expressed interest in participating in the offering, alongside other overseas and domestic investors, according to a Bloomberg report citing people familiar with the matter.
\n\nThe investor selection process is still underway, and the final list of anchor investors is expected to take shape in the coming days. However, no final decisions have been made so far, as per the report.
\n\nRepresentatives of Reliance Industries Ltd, the parent company of Jio Platforms, and Fidelity did not respond to requests for comment. Allianz and Capital Group declined to comment.
\n\nJio Platforms is now targeting a valuation of up to Rs 10.3 trillion, or approximately $108 billion, for its IPO, the report added.
\n\nThe latest valuation target marks a shift from earlier expectations, which had reportedly placed the company's potential value as high as $170 billion. The final valuation will be an important factor as the company moves closer to what could be a landmark…
Original source: https://www.timesnownews.com/business-economy
