New Delhi, May 21 -- Reliance Industries Ltd has slowed preparations for the planned initial public offering of Jio Platforms while Purvah Green, Inox Clean Energy and Hexa Climate have submitted binding bids to acquire Enel Group's India operations, according to separate media reports.

Meanwhile, Eversource Capital-backed electric bus operator Greencell Mobility is exploring a public market debut and Peak XV Partners may invest in space intelligence company Ulook, other reports said

Reliance's Jio Platforms

Reliance Industries has slowed preparations for the planned IPO of Jio Platforms as it reassesses the deal structure amid geopolitical tensions and market volatility triggered by the Iran war, Bloomberg reported, citing people aware of the matter.

The conglomerate still intends to file draft papers and could proceed at any time, but no firm timeline has been set, per the report.

Enel Group

Purvah Green, Inox Clean Energy and Hexa Climate have submitted binding bids to acquire Enel Group's India operations, The Economic Times reported, citing people aware of the matter.

The bids, pegged at an enterprise value of around Rs 3,000 crore, cover Enel's 2.5 GW renewable portfolio in India and followed six weeks of due diligence. Temasek-backed Sembcorp and Macquarie-backed Blueleaf Energy were shortlisted but did not submit final offers, per the report.

Greencell Mobility

Eversource Capital-backed electric bus operator Greencell Mobility has held preliminary talks with investment banks to explore a public market debut, Moneycontrol reported, citing people aware of the matter.

This comes at a time when India is aiming to shift focus from traditional energy sources to clean energy. Bloomberg recently reported India may roll out $1 billion in incentives for private adoption of electric buses and trucks.

Ulook-Peak XV

India- and South Asia-focused venture capital firm Peak XV Partners has initiated talks to invest in Indian space intelligence company Ulook to support its expansion plans, DealStreetAsia reported.

The startup last raised Rs 19 crore (about $2.15 million) in seed round in late 2025. It was led by growX ventures and InfoEdge Ventures.

Published by HT Digital Content Services with permission from VC Circle.