Billionaire Mukesh
Ambani’s Reliance Jio Platforms has pivoted to a pure fundraise
for its planned Mumbai listing, dropping earlier plans that
would have allowed some shareholders to exit, two sources said.
“Given the uncertainty in markets due to the situation in
West Asia, investors have chosen to stay invested in the company
rather than use the IPO as an exit opportunity,” one of the
sources said.
Ambani’s Jio Platforms, which houses the world’s
second-largest telecom company by users after China Mobile
, counts Meta, Google and Vista Equity
Partners among its investors.