Jio tells bankers it may file IPO prospectus as early as March
India’s Reliance Industries Ltd. aims to file a draft red herring prospectus for the initial public offering of its telecom unit, Jio Platforms Ltd. as early as the end of this month with the December-end financials, according to people familiar with the matter.
The company formally kicked off preparations for the IPO on Tuesday by appointing as many as 17 bankers to handle the issue. Morgan Stanley, HSBC Holdings Plc, JPMorgan Chase & Co., Citigroup Inc. and Goldman Sachs Group Inc. are among nine global banks selected for advisory roles, the people said, asking not to be identified as the information is private.
