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India's Jio Platforms has lowered its valuation to approximately $108 billion ahead of its IPO next week, planning to raise $3.2 billion.
Jio Platforms, an Indian telecom and digital services company, has lowered its valuation to approximately $108 billion ahead of its initial public offering (IPO) next week, down from over $130 billion floated a year ago. The company plans to raise up to 302 billion rupees (approximately $3.2 billion) through the IPO, with an offering price range of 1,065 to 1,119 rupees per share. Previously, Starlink founder Musk had called Jio Platforms "monopolistic," and investors have also questioned its positioning as a technology company.
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