Skip to main content

Sphero Indi Is a Tiny Robotic Car That Helps Children Learn Programming

Post a Comment

Reliance Eyes Overseas IPO for Facebook-backed Jio Platforms


Reliance Eyes Overseas IPO for Facebook-backed Jio Platforms

By Techtonic group

Jio Platforms, the digital and telecom subsidiary of Reliance Industries, has been in the news quite frequently over the past month. It first secured a massive investment from Facebook, followed by four other global players, to attract more $10 billion in a month. Now, a fresh report from Bloomberg suggests that Reliance has started prepping for an overseas listing of Jio Platforms.

Unnamed sources close to the development reveal that Mukesh Ambani, the chairman of Reliance Industries and Asia's richest man, has begun early preparations for an IPO. The company is said to be in early talks with banks and the IPO can happen in the next 12 to 24 months.

Morgan Stanley is currently in the run to be appointed as the lead banker for the overseas listing. Citibank and Bank of America Merrill Lynch, on the other hand, could be in charge of the IPO procedures. The final size of the IPO, along with the exchange and timeline, are yet to be decided. Jio Platforms could, however, be headed for the sought-after US exchange - Nasdaq.

Jio Platforms is currently waiting on the detailed guidelines for direct overseas listing. If you've been keeping up with the latest news, Finance Minister Nirmala Sitharaman recently announced that Indian firms will be allowed to go for a direct overseas listing, without a simultaneous Indian listing.

Reliance is planning to sell a total of 20 to 25 percent share in Jio Platforms for a net debt-free goal in the coming months. The subsidiary is currently valued at over $65 billion, thanks to the recent investments by Facebook, KKR, Silver Lake, and others.

"While a foreign listing may be a departure from RIL’s core belief of enhancing existing investors’ share value, international platforms may offer better liquidity to absorb a listing of Jio’s size when compared to the Indian market," said one of the sources aware of the developments.

Since nothing has been set in stone or comes from an official source, we suggest you to take this report with a grain of salt. Starting off with the telecom sector, Jio Platforms is now quickly expanding into almost sector in India. It recently launched JioMart to compete against grocers like BigBasket and Amazon Prime Now.

Labels:

Comments

Post a Comment

Popular posts from this blog

Instagram Parteners with Swiggy, Zomato to Let Resturant Add 'Food Order' Stickers in Stories

Instagram Parteners with Swiggy, Zomato to Let Resturant Add 'Food Order' Stickers in Stories By Techtonic group Instagram recently gave users the option to promote small (and local) businesses by placing a sticker in their Stories. Now, the company has partnered with two of India's renowned food delivery apps -  Swiggy and Zomato  - to bring a similar feature to the restaurant owners. It has debuted a new  'Food Order' sticker  that restaurants can include in their Stories to drive sales. The Coronavirus-led lockdown saw almost all restaurants and eateries shut shop for several days. And even when they opened, netizens have been wary to eat outside or order in due to hygiene concerns. Well, as restaurants open up in line with the WHO safety guidelines, they can now head to Instagram to find a new 'Food Orders' sticker in the Stories section. This new sticker is interactive and will  enable users to place food orders  simply by tapping on the sa...
Post a Comment
Read more

Xiaomi Mi True Wireless Earphones 2 To Launch Alongside Mi 10 on 8th May in India

Xiaomi Mi True Wireless Earphones 2 To Launch Alongside Mi 10 on 8th May in India By Techtonic group After multiple delays due to the nationwide lockdown, Xiaomi yesterday  announced  that its latest flagship smartphone - Mi 10 will launch in India on 8th May later this week. Now, the Chinese giant has taken to Twitter to reveal that it won't be the only product launching that day. Xiaomi uploaded a teaser video on Twitter just moments ago and it  reveals that the Mi True Wireless Earphones 2 will launch in India  alongside the Mi 10. The company first launched its truly wireless earbuds in China back in September last year, followed by a global launch in Europe in March earlier this year. Mi India ✔ @XiaomiIndia We love the wireless world. Mi fans, we're launching one more product you all have been waiting for, along with # Mi10 on May 8th. Leave your guesses in the comments.  RT if you #wirelessfreedom ...
2 comments
Read more

How to Sign out of One Google Account When Using Multiple Accounts

  You can sign in to one or more Google accounts simultaneously on both your mobile and PC, but you can’t sign out of one account at a time on the web. Instead, Google forces you to sign out of all accounts at once, even if you only want to log out of one or two accounts. It’s  not a problem on Android or iOS devices  because you can sign out of Google accounts one at a time. However, that’s not possible on the web. So today, we will show you a nifty workaround that will help you sign out of one Google account on any device when using multiple accounts. Sign Out of One Google (Gmail) Account When Using Multiple Accounts The inability to log out of a single Google account at a time may not be a big deal for people who only use one Gmail ID, but it is  really inconvenient  for folks who manage multiple accounts. This tutorial will show you a trick that will let you sign out of only one Google account on your computer instead of having to sign out of all accounts a...
Post a Comment
Read more