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India's Jio Platforms targets $106 billion valuation in IPO, sources say
Indian billionaire Mukesh Ambani’s Jio Platforms is targeting a valuation of 10.3 trillion rupees ($106 billion) in what would be the country’s biggest listing, four bankers on the deal said on Friday. Jio Platforms, which counts Meta and Google among its major foreign investors, is set to price its shares at 1,065 to 1,119 rupees apiece, the sources told Reuters. The IPO would raise about 302 billion rupees ($3.1 billion) at the upper end of the price band, surpassing Hyundai Motor India’s $2.9 billion issue in 2024. The sources were not authorised to speak to media and declined to be named. ...
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