Jio IPO! Powered By Facebook & 36 Cr Users, Jio Can List An International IPO: Everything You Need To Know
As per the latest development, there is news that Reliance Industries is working with banks as a way to be prepared early to initiate its digital and wireless business overseas.
It hasn’t been long since Reliance announced that Reliance Jio Mart, RIL’s e-commerce platform for taking orders and delivering groceries to popular metro cities across India. We also learned that Facebook has invested in this business and intends to boost it with the help of Whatsapp.
Read on to find out all the details about RIL’s plans for offering its digital and wireless services overseas!
Reliance Industries In Talks With Banks To Expand Business Overseas
Reliance Industries’ owner, Mukesh Ambani, is prepping Jio Platforms Ltd. to an initial public offering beyond India, as revealed by sources close to the development. These sources have also said that this offering is bound to happen sometime in the next 12 to 24 months, however, the company hasn’t decided on a listing venue as of yet. Also, there has been no revelation on the timeline and size either.
Such an expansion of businesses overseas will definitely give the digital business a higher valuation and also enable the existing investors to exit.
Through Jio Platforms Ltd., Reliance will be combining Reliance’s digital assets with its wireless carrier, Reliance Jio Infocomm Ltd., to form a holding company that will be a leading provider of e-commerce services and payments operator in the widely spread market of India.
Jio’s Advantage Would Be India’s Huge Consumer Market
As per investors, Jio will have an advantage due to its access to India’s huge consumer market. They are also betting on Reliance Jio’s ability to modify traditional industries in the country, such as retail, education, and payments, with the help of the technology infrastructure it possesses.
As of now, India is the only majorly open Internet marketplace where foreign technology leading companies will be able to compete for the shares. Some of the companies will be Amazon.com Inc., Walmart Inc., and Google’s parent company Alphabet Inc., etc.
It was only last week that KKR & Co. invested in the business, soon after RIL made deals with Facebook Inc., Silver Lake Partners and General Atlantic
This is still a developing story, and we’ll keep you informed as we get more updates!