Jio sets eyes on Navratri-Diwali period to launch mega $4 billion IPO
Jio is likely to finalise the exact dates within a couple of weeks after which it would initiate roadshows overseas before holding them at home, said a source close to the development.
Reliance Industries' telecom arm, Jio Platforms, is set to potentially launch its highly anticipated $4 billion initial public offering (IPO), the largest in India's history, by the end of October or early November. Industry insiders suggest the IPO could coincide with Navratri, a significant Hindu festival that commences on October 11 and concludes on Dussehra on October 20.
Should the IPO be postponed to the close of October, it may continue into the first week of November. Alternatively, the company may opt for Diwali, another major festival occurring on November 8, as the IPO date. Jio is anticipated to finalize the specific dates within a fortnight, and subsequently, conduct overseas roadshows followed by local ones.
The IPO filing, filed in June, obtained regulatory approval from the Securities and Exchange Board of India (SEBI) on August 28. Estimates suggest the IPO could raise approximately Rs 37,800 crore, potentially eclipsing the proposed Rs 31,000 crore IPO by the National Stock Exchange (NSE), currently the largest completed IPO in India.
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