Jio plans to launch IPO on October 21: Listing, face value and key details
Jio Platforms is preparing for a massive $3.8 billion IPO, expected to open on October 21 with a valuation between $143-146 billion. The funds raised will primarily be used to pay down debt for the company's telecommunications division.
Why it matters
This is set to be India's largest-ever IPO, signaling significant investor confidence in the country's digital services sector.
India could be headed for its biggest-ever IPO, with Mukesh Ambani's Jio Platforms preparing to raise around $3.8 billion from the public market. The Reliance Industries digital services arm is expected to open its issue on October 21, with the shares likely to make their market debut on October 28, according to two people familiar with the matter.The proposed IPO comes after Jio Platforms completed meetings with investors across the US, UK, Dubai, Hong Kong and Singapore. The company is expected to file its final IPO papers with the Securities and Exchange Board of India (Sebi) in the week starting October 12.At the proposed size, Jio Platforms would surpass Hyundai Motor India's $2.9 billion IPO in 2024, currently the country's biggest listing.
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