iWorld
Jio Platforms taps Morgan Stanley, Goldman for mega IPO push
MUMBAI: Jio Platforms Ltd. has picked Morgan Stanley and Goldman Sachs to steer its long-awaited public listing, setting the stage for one of India’s biggest IPOs and a valuation estimated between $133 billion and $182 billion. The digital arm of Reliance Industries Ltd. is expected to file draft papers once India’s finance ministry clears a SEBI proposal allowing a 2.5 per cent public float for large IPOs, according to media reports.
The offering is likely to comprise an even split between fresh shares and stock sold by existing private equity investors, including KKR & Co, Silver Lake and Vista Partners. Strategic shareholders such as Google LLC and Meta Platforms Inc. are expected to retain their stakes of 7.75 per cent and 9.99 per cent, respectively. Reliance chairman Mukesh Ambani first announced plans for the listing at the group’s annual meeting in September 2025.
Banker talks began in October for a potential first-half 2026 listing, with early proposals pegging Jio Platforms’ valuation as high as $170 billion: above Bharti Airtel Ltd.’s market capitalisation. Analysts estimate that a 2.5 per cent stake sale at around $180 billion could raise $4.5 billion, comfortably eclipsing Hyundai Motor India Ltd.’s $3.3 billion IPO in 2024.
iWorld
Warner Chappell Music launches India ops, Jay Mehta to lead unit
WMG shifts to direct model, unifying publishing and recorded music
MUMBAI: Warner Chappell Music has officially launched direct operations in India, marking a strategic shift by parent Warner Music Group to deepen its presence in one of the world’s fastest-growing music markets.
The move replaces the company’s earlier sub-publishing model with a full-fledged, on-ground operation, aimed at giving Indian songwriters stronger access to global networks, rights management tools, and creative infrastructure.
To lead the push, Jay Mehta has been handed an expanded mandate. Already serving as managing director of Warner Music India, Mehta will now oversee both recorded music and publishing across India and neighbouring South Asian markets, effectively bringing the two sides of the business under one roof.
The unified structure is designed to streamline how artists and songwriters work with the company, offering a more integrated ecosystem that spans compositions, recordings, and global distribution.
Warner Music Group managing director, recorded music and publishing, India and SAARC Jay Mehta said, “India’s songwriters are world-class, constantly redefining genres and pushing creative boundaries. By establishing a direct footprint for Warner Chappell, we’re bridging the gap between local brilliance and global opportunity.”
The timing is no coincidence. According to CISAC, creator collections in India jumped 42 per cent year-on-year to Rs 7 billion in 2024, while IFPI ranks India as the 15th largest recorded music market globally. At the same time, the industry is undergoing a structural shift, with independent and non-film music gaining ground over traditional Bollywood soundtracks.
Warner’s bet is that a direct presence will help it capture this changing dynamic. The company is also offering India-based creators access to its proprietary tools, including AI-powered royalty matching systems and real-time analytics platforms, aimed at improving transparency and earnings visibility.
Warner Chappell Music co-chair and CEO Guy Moot said the move is about shaping a publishing ecosystem that “works for creators and ensures their music is heard, protected, and rewarded everywhere.”
Meanwhile, Warner Music Group CEO Robert Kyncl underlined India’s importance to the company’s global strategy, noting that the new structure creates a “unified powerhouse” for both creators and audiences.
With local studios, global reach, and tighter integration across its business lines, Warner is clearly doubling down on India. And as streaming habits evolve and independent music rises, the company is positioning itself to be not just a participant, but a key architect of the country’s next music chapter.
