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BofA Pegs Jio Platforms’ Valuation At $107 Bn, Sees Robust Growth In 2024

Startup News FYI

Startup News FYI · 1y ago

BofA Pegs Jio Platforms’ Valuation At $107 Bn, Sees Robust Growth In 2024

Mukesh Ambani's Jio Platforms has been estimated to be valued at $107 billion by brokerage BofA. The platform, which includes Reliance Jio Infocomm and other digital businesses of Reliance Industries, is expected to continue adding subscribers and expand its enterprise business. BofA sees potential growth opportunities in government contracts, SMEs, and corporates for Jio Platforms. This valuation is a 64.6% increase from the company's $65 billion valuation after its $20 billion fundraising round in 2020. Jio Platforms has been expanding its business with the launch of advanced feature phone JioBharat and wireless broadband device JioAirFiber.

Related News

Vanguard marks down Ola again, pegs fair value at $3.5 bn

Money Control

Money Control · 2y ago

Vanguard marks down Ola again, pegs fair value at $3.5 bn

Vanguard, which holds 166,185 shares of Ola or about 0.7 percent stake in the company, has pegged the fair value of its stake at $25,038,000, down from its acquisition cost of $51,748,000, the AMC's regulatory filings showed. This implies a valuation of $3.5 billion for Ola against its last private market valuation of $7.3 billion.

Ambani's Reliance reports 30% YoY increase in net profit to Rs 19,878 crore in Q2FY24

IndianStartupNews

IndianStartupNews · 1y ago

Ambani's Reliance reports 30% YoY increase in net profit to Rs 19,878 crore in Q2FY24

Reliance Industries, led by Mukesh Ambani, reported a 1.2% year-on-year increase in gross revenue for the second quarter of fiscal year 2024. The growth was driven by the company's consumer businesses, with Jio Platforms Limited seeing a 10.6% revenue increase and Reliance Retail Ventures Limited experiencing an 18.8% growth. The EBITDA surged by 30.2%, and the profit after tax showcased a robust growth of 29.7%. Reliance continues to invest in the pan-India 5G rollout.

Ambani's Reliance Jio delays India IPO, 2025 listing not on cards: Sources

Economic Times

Economic Times · 1m ago

Ambani's Reliance Jio delays India IPO, 2025 listing not on cards: Sources

Reliance Jio Platforms, led by Mukesh Ambani, has postponed its much-anticipated IPO planned for 2023 to possibly 2025. The delay aims to strengthen its business and boost valuation beyond $100 billion amid industry competition and challenges, including subscriber churn due to tariff hikes. Jio wants to enhance revenues, expand digital offerings, and establish a more mature business model. The decision comes amid a robust IPO market in India, and investors remain optimistic.

UBS pegs $15.4 billion enterprise value to Zomato's Blinkit biz

Economic Times

Economic Times · 1y ago

UBS pegs $15.4 billion enterprise value to Zomato's Blinkit biz

According to UBS, Blinkit, a quick commerce platform valued at $15.4 billion, is contributing to Zomato's valuation more than its main food delivery business. UBS values Zomato at $32.1 billion, with quick commerce and food delivery both showing strong growth. Blinkit plans to expand its network of dark stores to 2,000 by 2026. UBS also noted increased competition in the quick commerce space, with new players such as Flipkart Minutes entering the market. UBS valued Zomato's food delivery business at $12.2 billion and its going-out business at $1.6 billion.

OpenAI Co-founder Ilya's startup seeks $20 bn valuation: Report

Inshorts · 6m ago

OpenAI Co-founder Ilya's startup seeks $20 bn valuation: Report

OpenAI Co-founder Ilya Sutskever's startup Safe Superintelligence (SSI) is in talks to raise funding at a $20 billion valuation, Reuters reported. The startup, which has not generated any revenue yet, raised $1 billion in September last year at a reportedly $5 billion valuation. Sutskever launched SSI in June 2024 after leaving OpenAI in May.

Dani-sponsored Asiana fund pegs $200 mn valuation on IPO-bound company

VCCircle

VCCircle · 1y ago

Dani-sponsored Asiana fund pegs $200 mn valuation on IPO-bound company

The Asiana Alternative Investment Fund, sponsored by Jalaj Dani and managed by Ambit Wealth Management, is optimistic about the IPO-bound company it recently supported. The fund has estimated a valuation of $200 million for this company, foreseeing potential growth for its investment.

IPO-bound Swiggy's valuation up by 13% at $12.1 bn from $10.7 bn: Report

Business Today

Business Today · 1y ago

IPO-bound Swiggy's valuation up by 13% at $12.1 bn from $10.7 bn: Report

US asset manager Baron Capital Group has increased the fair value of Indian food delivery app Swiggy by 13% to $12.16bn, up from its previous valuation of $10.7bn. The valuation update was disclosed in a filing with the US Securities and Exchange Commission. Baron Capital had previously invested in Swiggy during a $700m funding round in January 2022. In addition, Swiggy is planning to go public in mid-2024, with its initial public offering expected to be valued at around $1bn.

Private credit takes centre stage as deployment tops $6.5 bn

VCCircle

VCCircle · 8m ago

Private credit takes centre stage as deployment tops $6.5 bn

India's private credit market saw substantial growth in 2024, driven by strong macroeconomic fundamentals, economic stability, and enhanced corporate governance. Ernst & Young's study highlights that private credit issuance reached record levels in the first half of the year, with deployment surpassing $6.5 billion. This flourishing market reflects the increasing appeal of private credit as a crucial financial instrument, indicating robust investor confidence and the evolving dynamics of India's financial landscape.

BlackRock COO says India’s growth is ‘special’ as Jio BlackRock gears up for big push

Economic Times

Economic Times · 18d ago

BlackRock COO says India’s growth is ‘special’ as Jio BlackRock gears up for big push

Rob Goldstein, BlackRock's COO, emphasizes India's potential and dynamic growth, highlighting the firm's joint venture with Reliance Industries in Jio BlackRock. He is optimistic about India's economic landscape, noting advancements in digitization and infrastructure, with BlackRock managing $100 billion in client capital in India. Goldstein sees opportunities in India's evolving capital markets and demographic trends, as well as leveraging AI-driven strategies for investment in Jio BlackRock AMC's offerings.

Zerodha values itself at $3.6 Bn, more than Upstox and Groww’s worth

Entrackr

Entrackr · 1y ago

Zerodha values itself at $3.6 Bn, more than Upstox and Groww’s worth

Zerodha, a stock broking company, has valued itself at $3.6 billion, an 80% increase from its previous self-assessed valuation of $2 billion. Zerodha is now the highest-valued startup in the stock broking industry, surpassing Upstox and Groww. The valuation is based on the company's net profits, calculated at a multiple of 10-15 times its net annual profits. Despite potential market fluctuations, Zerodha expects to grow by 10-15% in the long run. It currently has the highest number of monthly active users among stockbroking platforms.

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