Reliance Industries Ltd (RIL)’s planned Rs 30,000 crore Jio Platforms IPO is shaping up to be more than India’s biggest-ever share sale. At a potential valuation of around Rs 11 lakh crore, the offering will put a public market price on billionaire Mukesh Ambani’s digital empire, test Reliance’s complex holding company valuation and reset the pecking order in India’s telecom industry.
The proposed Rs 30,000 crore IPO has already drawn strong interest from global and domestic investors. Existing marquee backers are seeking to increase their exposure rather than sell shares, according to people familiar with the matter.
