Sunil Bharti Mittal backs Jio IPO aiming for 11L/cr valuation
Airtel's chairman, Sunil Bharti Mittal, just gave a friendly nod to rival Jio Platforms as they gear up for their massive IPO.
Speaking at the India Mobile Congress, Mittal said he's looking forward to seeing Jio succeed: "Excellent, we are all looking forward to a very successful IPO."
Jio is aiming high with a target valuation of ₹11 lakh crore (about $114 billion).
Jio expected to file with SEBI
Jio is expected to file final offer documents with SEBI in the week starting October 12, moving closer to its public debut.
If you're a Reliance Industries shareholder, keep an eye out for the upcoming record date and final offer documents so you qualify for the reserved shareholder category in the Jio IPO.
This IPO could not only boost Reliance's stock value but also help Jio raise funds for future growth, definitely one to watch in the telecom world.