Jio Platform listing may help its promoter to become the richest man in the world
If a question is asked, “Is there any Indian in the top 10 richest people?” The answer would be a hesitant “No”!
However, if we change the view to the near future and put the same question as, “Can any Indian become the richest man in the world?” The answer would be an emphatic, “Yes”! If it turns out to be true, he would be no other than Chairman and MD of Reliance Industries, Mukesh Ambani, if he succeeds in an overseas IPO of Jio Platforms.
If the sources are to be believed, RIL is preparing for an overseas IPO of Jio Platforms and the company is working with different banks in order to achieve the same. While the listing venue and date has not been decided yet, it may happen in the next 12-24 months.
Since its launch, the enterprise value of Jio Platforms has reached Rs5.15 lakh crore. Over the past month, it has raised Rs10.3 billion from various marquee investors, such as Silver Lakes, General Atlantic, KKR, etc. In August 2019, Mukesh Ambani had iterated his intentions to list different RIL's businesses in the next five years. Jio Platforms would obviously be the first choice for listing, considering RIL's affirmation to make Jio, a global platform.
If such a mammoth listing happens, USD 65 billion worth Jio Platforms (as of now) would potentially transform into USD300 billion-plus company and make Mukesh Ambani, the richest man in the world.