Jio Platforms IPO: Rs 37,700 crore issue likely to open on Oct 21
Jio Platforms is preparing to launch what is anticipated to be India's largest initial public offering. Scheduled around Dussehra, the IPO is estimated at $4 billion and will likely occur later this month. The company aims to complete its IPO process, including listing, before October 30. Proceeds from the IPO will primarily be used for prepaying borrowings and general corporate purposes.
Mumbai: The Mukesh Ambani-led Jio Platforms is poised to unveil its anticipated initial public offering (IPO), potentially the largest of its kind in India, according to sources. The company intends to raise approximately ₹37,700 crore ($4 billion) during the IPO, slated for release around Dussehra. Following the submission of the red herring prospectus after October 12, the IPO's price range is expected to be between ₹1,150 and ₹1,220 per share.
The anchor book is projected to launch on October 19, with the public subscription commencing on October 21 and concluding on October 23. Share allotments are anticipated by October 26, with the prospect of listing on the bourses by October 28.
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Also reported by 1 other outlet
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