“Morgan Stanley analysts have valued Jio Platforms at approximately $133 billion, implying a multiple of about 13 times its estimated enterprise value to earnings before interest, taxes, depreciation, and amortization (Ebitda) for fiscal year 2027 (FY27). This valuation suggests a positive outlook for the company's IPO. The IPO is structured as a fresh issue of shares, aiming to raise ₹35,000 crore.”