Mumbai: Colombo Sri Lanka invited proposals from potential investors in November 2023. Earlier Sri Lanka governments decided to diversify its stake in 'Sri Lanka Telecom', the government owned body of the Sri Lankan government. As per a recent press release from Sri Lanka Telecom, Jio is potential investors among other few investors. Jio expressed interest in the investment in the Sri Lanka Telecom service provider unit.

The Sri Lanka government decided to privatise the telecom entity with an aggressive strategy to diversify investment. Jio Platforms might go for the option of IPO. (Initial Public Offer) to seek investment in the telecom sector. Reliance also set to announce Q3 (Quarter 3) results. On the backdrop of Q3 results, the move of Reliance Own Jio established themselves as an international telecom player.

The deadline for sharing a proposal to the Sri Lanka government has ended on 12th January.