Key facts
- Jio Platforms is preparing for a potential IPO that could be India's largest.
- The company has nearly 525 million subscribers.
- Meta, Alphabet, and KKR are among Jio Platforms' backers.
- Jio Platforms is considering building its own satellite constellation.
- This move aims to strengthen the company's control over India's communications infrastructure.
- Jio Platforms intends to allocate a portion of its IPO proceeds to repay nearly $3 billion in external commercial borrowings.
Jio Platforms, a major Indian telecom company with nearly 525 million subscribers and controlled by billionaire Mukesh Ambani, is gearing up for an initial public offering that could be the largest in India's history. The company counts technology giants Meta and Alphabet, as well as investment firm KKR, among its backers. In parallel, Jio Platforms is considering building its own satellite constellation to further cement its control over India's communications infrastructure. The company also plans to use a portion of the proceeds from its proposed share sale to repay nearly $3 billion in external commercial borrowings for its telecom unit, according to a draft IPO document.