Jio Platforms gears up for $140bn IPO
Jio Platforms, led by Mukesh Ambani, is about to launch an IPO that could value the company between $120 billion and $140 billion, making it one of the biggest in India's history.
Big investors like TPG, KKR, General Atlantic, and Silver Lake will be selling some of their shares.
Reliance Industries (Jio's parent) isn't selling or issuing new stock this time.
Jio is already meeting with banks and prepping its paperwork
Even with global market ups and downs, analysts still see Jio as a $133 billion giant.
To help smooth the process, India's finance ministry has made it easier for huge companies like Jio to go public by lowering the minimum public shareholding rule from 5% to 2.5%.
Jio is already meeting with banks and prepping its paperwork for regulators—so expect more updates as they move closer to hitting the stock market.