Jio Platforms IPO likely by Oct-end; $3.8 bn issue, $143-146 bn company valuation: Report
Jio Platforms is preparing for a major IPO by late October, aiming for a valuation between $143-146 billion and raising approximately $3.8 billion. The company has completed international roadshows and is finalizing filings with SEBI.
Why it matters
As one of India's largest digital services providers, this IPO represents a significant milestone for the Indian stock market and the Reliance group.
Jio Platforms is expected to make its stock market debut by the end of October, in what could become India's largest public offering with an estimated issue size of around USD 3.8 billion.The Reliance Industries digital services arm is expected to seek a valuation of $143-146 billion, or at least Rs 12 lakh crore, according to banking and other sources, quoted by PTI. The company has completed overseas investor roadshows and is likely to file its final IPO papers with the Securities and Exchange Board of India (Sebi) in the week beginning October 12, the sources told PTI.The proposed listing would be the first IPO from the Reliance group since 2008 and its first public offering of a consumer-focused business.Jio Platforms is now entering the final stages of preparations for the issue after meetings with investors in the US, UK, Dubai, Hong Kong and Singapore.
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