1 hr ago
Jio IPO Grey-Market Premium Rises Ahead of Expected Listing
Jio Platforms is preparing to sell shares to the public for the first time.
The company is expected to launch its IPO on October 21.
Some unofficial market trading suggests investors may be willing to pay more for the shares, and the reported premium has recently risen to ₹160.
But this grey-market price is not official and can change.
Jio has not yet announced the IPO’s final price range or other key details.
It plans to sell up to 27 crore new shares.
Most of the money raised is expected to help repay debt in its telecom division.
The shares are expected to be listed on India’s NSE and BSE exchanges.
Jio Platforms’ grey-market premium was reported at ₹160 on Monday, up from ₹145 and ₹120 in the prior two sessions.
The proposed IPO is scheduled to launch on October 21, according to sources cited in the article.
Jio Platforms plans to issue up to 27 crore fresh shares, about 2.9% of its post-issue paid-up equity capital.
The company is reportedly seeking a valuation of $143–146 billion, while the price band and other issue details remain unannounced.
Most proceeds are expected to repay debt owed by Jio’s telecom division; the shares are expected to list on the NSE and BSE.
- Who
- Jio Platforms Ltd, the digital services arm of Reliance Industries.
- What
- The company is preparing an IPO and its reported grey-market premium has risen to ₹160.
- Where
- The shares are expected to list on the NSE and BSE in India.
- When
- The premium was reported at ₹160 on Monday; the IPO is scheduled to launch on October 21.
- Why
- Most of the IPO proceeds are expected to repay debt owed by Jio’s telecom division.
Key facts
- Reported grey-market premium
- ₹160 on Monday, compared with ₹145 and ₹120 in the prior two sessions.
- Expected IPO launch
- October 21.
- Planned fresh issue
- Up to 27 crore equity shares.
- Share of post-issue capital
- About 2.9%.
- Reported target valuation
- $143–146 billion, or at least ₹12 lakh crore.
- Expected use of proceeds
- Largely to repay debt owed by the telecom division.
- Expected listing exchanges
- NSE and BSE.
- Price band
- Not yet announced.
Sources
Related news
Jio Platforms IPO Nears, With October Listing Reported
Jio Platforms IPO May Open October 21, Set for Record Listing
Jio Platforms IPO Plans Point to Record-Breaking Indian Share Sale
Jio Platforms IPO May Open October 21, Targeting Debt Repayment
Jio IPO Could Rank Among India's Biggest Public Offerings
Jio IPO Roadshows Attract Global Investors Ahead of Mega Listing
Veranda Learning Names Board Ahead of Commerce Demerger
Runwal Enterprises Shares Make Muted Market Debut
Orient Cables Shares Debut Nearly 65% Above IPO Price
