Mukesh Ambani Plans To List Jio Platform Overseas

In the wake of bringing billions up in subsidizing in the course of recent months, Mukesh Ambani's Reliance Jio Platforms is presently hoping to get openly recorded outside India. Business tycoon Mukesh Ambani has left a trail of questions for everyone.  

According to a recent media report, Reliance and Ambani are in discussions with banks for an overseas public listing of it’s digital and wireless business. However, the stock exchange for the listing hasn’t been decided yet. Jio is planning to list itself over the next 12 to 24 months, but no final decision has been taken on the timeline and the size of the listing.  

This has come after Jio Platforms had raised $10 billion after bagging multi-billion dollar deals from marquee investors over the past one month, which included a 9.99% stake to Facebook for $5.7 billion; 1.2% to Silverlake for $750 million; 2.3% to Vista Equity Partners for $1.5 billion, 1.34% to General Atlantic for $870 million, and a 2.32% stake in KKR for $1.5 billion. 

Making it comparable with global platforms, such as Alphabet, Tencent, and Alibaba, which are largely debt-free and have large digital ecosystems, the enterprise value of Jio Platforms has reached Rs 5.15 trillion within six months of its launch. 

According to the people, who asked not to be identified as the discussions are private, the foreign listing could potentially give the digital business a higher valuation and allow existing investors to exit. The KKR & Co. last the week became the latest investor piling into Jio Platforms after Ambani sealed deals with Facebook, Silver Lake Partners and General Atlantic in the recent. 

Reliance’s digital assets combined with its wireless carrier, Reliance Jio Infocomm aims at becoming a top e-commerce holding company and the operator of the top payment in India’s vast consumer market. 

Some foreign technology giants such as Amazon.com, Walmart and Google’s parent Alphabet consider India as the only major open Internet market where they can compete for market share. 

Started in 2016, Reliance Jio is now India’s largest wireless carrier. The operator stormed past rivals by building a nationwide 4G network, then offering free calling and data services at prices established competitors with older networks could not match without losing money. According to a media news report, in 2017, Ambani was weighing an IPO of Reliance Jio three years ago after a $31 billion investment spree. 

A massive IPO like Reliance Jio Platforms in India would attract more investments in the public market, which will also boost the funding prospects for other startups, given that venture capital funds are often tied in public markets.