Jio Platforms sets ball rolling on mega public float proposal
Mumbai: Jio Platforms has narrowed down to Morgan Stanley and Goldman Sachs as lead bankers for its upcoming initial public offering (IPO), said people familiar with the matter. The listing is expected to value India’s largest telecom operator at $133-$182 billion, according to estimates by market analysts.
The company, the telecom and digital business unit of Reliance Industries (RIL), is ready to file its draft red herring prospectus once the finance ministry clears a proposal by the Securities and Exchange Board of India (Sebi) to allow a 2.5% public float for mega IPOs.
