Business
Mittal backs Jio Platforms IPO as filing nears
Livemint··4d ago
Bharti Airtel chairman Sunil Bharti Mittal has backed Jio Platforms’ planned IPO. At the India Mobile Congress in New Delhi, he told Mint he looked forward to a very successful IPO. Jio Platforms is expected to file final SEBI papers in the week starting October 12, PTI said. Reports put the sought valuation near Rs 11 lakh crore ($114 billion).
Prism
What It Means For You
- Existing Reliance shareholders may watch the record date for any reserved IPO category.
- Final offer documents with SEBI are expected in the week starting October 12.
- A listing would give a public market price for Jio Platforms equity.
What's Happening
- Mittal’s comment was his first public remark on Mukesh Ambani’s Jio Platforms IPO.
- He spoke on the sidelines of the 10th India Mobile Congress.
- Mint reported the company is seeking about Rs 11 lakh crore, or $114 billion.
Why the listing is watched
- Jio Platforms is a Reliance Industries-backed digital services company.
- Coverage says a clearer Jio valuation could narrow the holding-company discount on Reliance shares.
- Mittal framed the IPO as excellent for the market to watch.
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