Jio Platforms is said to seek about $114 billion valuation in IPO

Jio Platforms Ltd. is likely to seek a valuation of about ₹11 lakh crore ($114 billion) in its planned initial public offering, according to people familiar with the matter, falling short of earlier expectations for what may still be India’s largest-ever listing.

The telecom and digital services arm of billionaire Mukesh Ambani’s Reliance Industries Ltd. has finished gauging demand for the Jio Platforms IPO and is likely to begin meetings with potential investors this week to discuss valuation and pricing, the people said, asking not to be identified because the information is private.