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Jio Platforms Weighs $114 Billion Valuation for October IPO
Jio Platforms is planning to sell shares to the public in an IPO.
Reports say it may value the company at about $114 billion.
Jio has finished checking how much interest investors might have and is expected to meet them to discuss the price.
The IPO may open in the week of October 19, with a listing before October 30.
Those dates and the final price are not yet settled.
Jio’s draft plan includes up to 270 million new shares.
At the reported valuation, the shares for sale would be worth about $3.4 billion.
Some earlier guesses put Jio’s value higher, while other estimates were close to the current reported figure.
Jio Platforms is reportedly considering a valuation of about ₹11 lakh crore, or $114 billion, for its planned IPO.
The company has finished gauging investor demand and is expected to meet prospective investors to discuss pricing and valuation.
Jio may open the IPO in the week of October 19 and list before October 30, though dates and terms remain subject to change.
Its June draft prospectus proposed up to 270 million new shares, about 2.93% of post-issue equity; at the reported valuation, those shares would be worth about $3.4 billion.
Earlier valuation figures reached $130 billion to $170 billion, while June estimates ranged from about $110 billion to $118 billion.
- Who
- Jio Platforms Ltd., the telecom and digital services arm of Reliance Industries Ltd.
- What
- A planned IPO reportedly being considered at a valuation of about $114 billion.
- Where
- India.
- When
- The IPO may open in the week of October 19, with a listing before October 30; the timetable is not final.
- Why
- Jio is preparing a public share sale and is expected to discuss pricing and valuation with prospective investors.
Lower or current valuation estimates
Earlier higher expectations
Jio’s potential valuation
Lower or current valuation estimates
The reported figure is about $114 billion; June estimates cited in the articles ranged from about $110 billion to $118 billion.
Earlier higher expectations
Earlier valuation figures reportedly under discussion reached $130 billion to $170 billion.
IPO pricing conditions
Lower or current valuation estimates
A stock-market rout has affected pricing ambitions for Indian IPOs, and the National Stock Exchange of India offering was forced to downsize its deal.
Earlier higher expectations
At $114 billion, the shares offered would still be worth about $3.4 billion, more than Hyundai Motor India’s $2.9 billion 2024 IPO proceeds.
Key facts
- Reported valuation
- About ₹11 lakh crore ($114 billion)
- Proposed new shares
- Up to 270 million, or 27 crore
- Post-issue equity represented
- About 2.93%
- Estimated value of shares offered
- About $3.4 billion (₹32,000–₹32,500 crore)
- Possible IPO opening
- Week of October 19
- Possible listing
- Before October 30
- Banks appointed
- 19; named banks include Kotak Mahindra Capital, Morgan Stanley, BofA Securities, Axis Capital, BNP Paribas and Citigroup
- Prior valuation figures
- Earlier discussions reportedly reached $130 billion–$170 billion; June estimates included $110 billion and $115 billion–$118 billion
Sources
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