Jio's Mega IPO Accelerates: Reliance Taps Six Global Investment Banks

• Reliance Industries is intensifying preparations for a potential mega IPO of its telecom unit, Jio Platforms.
• Six major investment banks, including BofA Securities, Citigroup, Goldman Sachs, and Morgan Stanley, are advising on the listing.
• Experts estimate Jio Platforms' valuation could reach $170 billion, potentially raising $4.3 billion by selling a minimum 2.5% stake.
• The company plans to file the Draft Red Herring Prospectus (DRHP) with SEBI soon, following finalization of terms.
• This IPO could be India's largest and is expected to inject new energy into the country's active IPO market.