India’s Reliance Industries mulls IPO of Facebook-backed Jio Platforms – The National

India’s Reliance Industries mulls IPO of Facebook-backed Jio Platforms – The National

India's Reliance Industries mulls IPO of Facebook-backed Jio Platforms. The company is being prepared for an initial public offering outside India after attracting billions of dollars in investment. Reliance Industries is working with banks on early preparations for an overseas listing of its digital and wireless business, sources told Bloomberg, after the unit attracted more than $10 billion (Dh36.7bn) of investment in a month.. An overseas listing could potentially give the digital business a higher valuation and allow existing investors to exit, the people said.. A representative for Reliance Industries declined to comment.. Jio Platforms combines Reliance's digital assets with its wireless carrier, Reliance Jio Infocomm, into a holding company aimed at becoming a top e-commerce and payments operator in India's vast consumer market.. Investors are betting on Jio's access to India's huge consumer market, and its potential to shake up traditional industries - from retail to education and payments - in the country through its technology.. Reliance Jio was started in 2016 but is already India's largest wireless carrier.. Shares of Reliance Industries have fallen about 5 per cent this year, giving the conglomerate a market value of about $120bn..