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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Editor's note: What is good for India is good for Reliance. That is something Mukesh Ambani, chairman and managing director of Reliance Industries Ltd, espoused too, clearly taking on from his father, the late Dhirubhai Ambani. But is it possible that with Jio Platforms Ambani has created a company that’s too much for Indians to stomach? Bloomberg News reported on Tuesday that Reliance was looking at listing Platforms—the subsidiary housing all the conglomerate’s digital businesses, as well as telecom operator Reliance Jio—overseas: Reliance Industries Ltd. is working with banks on early preparations for an overseas listing of its digital and wireless business, people with knowledge of the matter said, after the unit attracted more than $10 billion of investment in a month. The conglomerate backed by Mukesh Ambani, Asia’s richest man, is preparing Jio Platforms Ltd. for an initial public offering outside of India, the people said. The offering could happen in the next 12 to 24 months and the company hasn’t decided on a listing venue, one of the people said. There’s also no final decision on timeline and size, according …
Mukesh Ambani wants investors to price Reliance Industries’ IPO-bound telecom arm like a technology business. In reality, Jio’s tech ambitions remain a work in progress.
While the filing for an IPO by its telecom and digital business was the highlight, Reliance laid out plans for its new energy and retail businesses, setting them up for eventual listings.
As India’s largest stock exchange heads to the public markets, it may need to rethink its excessive reliance on transaction revenue.
