Meet Mahendra Nahata, the man who is set to reap 100-fold from Jio Platforms IPO

Jio Platforms filed its DRHP for a proposed IPO, planning to issue 270 million new shares that will reduce Reliance Industries' ownership from 66.43% to 64.5%. Mahendra Nahata's 0.54% stake, purchased for about Rs 48 crore in 2020, is now valued at around USD 611 million (about Rs 5,800 crore) based on a Motilal Oswal analysis valuing Jio Platforms at USD 114 billion — a potential 100-fold gain. Reliance has not yet disclosed the fundraising target or offer price.