Jio Platforms Sets IPO Range, Seeks Up to $3.2 Billion
The Indian telecom company plans to sell 270 million shares, with its offering scheduled for Oct. 21 to Oct. 23.
Key takeaways
- Jio Platforms aims to raise up to 302 billion rupees in its IPO.
- The planned sale covers 270 million shares priced between 1,065 and 1,119 rupees each.
Jio Platforms plans to raise up to 302 billion rupees ($3.2 billion) in an IPO, according to a Reliance Industries exchange filing. The Indian telecom company plans to sell 270 million shares at 1,065 to 1,119 rupees each.
The offering is scheduled to run from Oct. 21 to Oct. 23. At the top of the range, Jio Platforms would be valued at about $108 billion.
The IPO would be India’s largest in rupee terms, but slightly smaller in dollar terms than Hyundai Motors’ $3.3 billion offering in 2024. Indian market intelligence firm Prime Database had estimated Jio would raise around 377 billion rupees.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
