08:06 AM EDT, 03/16/2026 (MT Newswires) -- Bank of America's ( BAC ) BofA Securities, Citigroup ( C/PN ) (C), Goldman Sachs (GS), JM Financial, Kotak Mahindra Capital and Morgan Stanley ( MS ) are working with Reliance Industries on the planned initial public offering of its telecom unit Jio Platforms, Bloomberg reported Monday, citing people familiar with the matter.

Jio Platforms could be valued at up to $170 billion, which means the company could raise about $4.3 billion, the report said. Terms of the potential offering and timeline may still change, it added.

BofA Securities, Citigroup ( C/PN ), Goldman Sachs ( GS ) and Morgan Stanley ( MS ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)