Jio likely to seek ₹11 lakh crore valuation in its IPO: Report

Billionaire Mukesh Ambani's Jio Platforms is likely to seek a valuation of ₹11 lakh crore ($114 billion) in its IPO, below earlier estimates of $130 billion-$170 billion, Bloomberg reported. This would make Jio India's third-most valuable listed company behind its parent Reliance and rival Bharti Airtel. Jio is expected to issue 27 crore new shares worth around $3.4 billion.