Crypto traders price India telecoms company Reliance Jio's IPO at about $110 billion
Crypto exchange Bitget has launched perpetual contracts for Reliance Jio's upcoming IPO, allowing traders to speculate on the company's valuation before it officially lists on the stock market. Current trading activity suggests a market valuation of approximately $110 billion, slightly higher than the company's projected $106 billion target.
Why it matters
This trend highlights the growing role of crypto platforms in providing early price discovery for major corporate IPOs, though it also underscores the risks of speculative, synthetic financial products that lack the regulatory protections of traditional equity markets.
The JIOUSDT perpetual contract on Bitget traded near $12 on Thursday. For comparison, the company set a maximum bid price of 1,119 rupees ($11.79) per share . The company is expected to have about 9.21 billion shares outstanding after the sale, valuing it at most around 10.3 trillion rupees ($106 billion).
Jio Platforms is the telecom and digital business of Reliance Industries, one of India’s biggest conglomerates. Its Jio network started up in 2016 and a decade later is the largest mobile operator by subscriber numbers. The IPO, which seeks to raise about 302 billion rupees, is the largest in India’s history, overtaking Hyundai Motor India's 279 billion-rupee initial share sale in 2024.
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