Jio Platforms likely to launch IPO on October 21, seeks to raise $3.8 bn
The country's biggest listing to date is Hyundai Motor India's $2.9 billion listing in 2024, while the National Stock Exchange of India made its market debut last month after a $2.3 billion IPO
Mukesh Ambani's Jio Platforms is preparing to launch a massive IPO, potentially raising $3.8 billion in public market offerings, according to two sources familiar with the matter. The digital services arm of Reliance Industries aims to open its issue on October 21, with shares debuting on the market by October 28, as per reports.
The proposed IPO follows a series of investor meetings in the US, UK, Dubai, Hong Kong, and Singapore, leading to the company's final filing with the Securities and Exchange Board of India (Sebi) expected in the week beginning October 12. The IPO would be the largest in India's history, surpassing Hyundai Motor India's $2.9 billion offering in 2024 and the National Stock Exchange's $2.3 billion IPO.
Jio Platforms is seeking a valuation between $143-146 billion, with around 27 crore shares to be issued, representing 2.9% of the company's post-issue equity base. The shares will trade at a face value of Rs 10, and the issue is expected to be listed on both the BSE and NSE.
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- Jio plans to launch IPO on October 21: Listing, face value and key details timesofindia.indiatimes.com
