Mukesh Ambani's ill-timed Jio IPO has some logic
RELI•Jio Platforms may scrape a $100 billion valuation for its IPO as war fears rattle markets and AI enthusiasm turns to fear. A listing would crystallize meagre returns for KKR, PIF and Silver Lake, while another delay risks trapping global backers and denting Ambani's credibility.
1. IPO valuation
Jio Platforms, Reliance Industries' telecom unit, may just scrape a $100 billion valuation for its IPO as war fears rattle markets and investor enthusiasm for artificial intelligence turns to fear. The company is set to price shares at 1,065 to 1,119 rupees, valuing its equity at 9.8 trillion to 10.3 trillion rupees, according to a Reuters report cited in the article's context.
2. Earlier target
Jio was targeting a $131 billion valuation in June when it filed draft offering papers. The columnist says an IPO would crystallize meagre returns for KKR, PIF and Silver Lake, but another delay risks trapping global backers and further denting Mukesh Ambani's credibility.
