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

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

Robotic toys for learning are becoming more common in the market as kids turn more towards STEM learning. As a result, we’ve seen several modular and advanced robotic toys that are designed to help children learn the basic concepts of programming and problem-solving. And the Sphero indi is not that different. The Sphero indi Developed by renowned robotic-toy maker Sphero, the indi is essentially a toy car that helps children learn about the core concepts of problem-solving and logical thinking. The learning set comes with the indi, which the tiny robotic car, and a bunch of color-coded silicone-based tiles, designed to give the indi specific instructions. For instance, a green tile tells the car to move faster, a pink tile tells it to turn left, a yellow one instructs the car to drive slowly, and a red tile stops the car. So, the car comes equipped with a color sensor to detect the color of a tile over which it is driving and respond accordingly. Hence, using the Sph...
Post a Comment
Read more

Apple Slams Tile After Being Accused of Violating EU Antitrust Laws

Apple Slams Tile After Being Accused of Violating EU Antitrust Laws By Techtonic group In a move that could further compound Apple's regulatory problems in Europe, the company is now facing allegations of monopolistic trade practices from fellow Silicon Valley tech firm,  Tile . In a letter sent to European competition commissioner, Margrethe Vestager, this week, Tile said that Apple was making it difficult for users to use its product with iPhones. According to the complaint, the Cupertino giant is favoring its own 'FindMy' application in violation of the region's antitrust regulations by selectively disabling features of the Tile tracking app. Apple's actions, the complaint alleges, are aimed at preventing the Tile app from working seamlessly with iPhones and iPads. The allegations come at a time when Apple is expected to launch  its own Tile-like tracking devices , expected to be called  Apple Tags . According to Tile's lawyer, Kirsten Daru, the ...
Post a Comment
Read more