1 hr ago
Jio Platforms IPO Nears, With Dates and Pricing Still Unconfirmed
Jio Platforms is preparing to sell some of its shares to the public.
Reports say the company may file its final paperwork with India’s market regulator soon.
The offering could raise about $3.8 billion by selling new shares.
Reports suggest it may open for applications on 21 October and list on 28 October, but the dates are not confirmed.
The official share price range has not been announced.
Some reports estimate a range of ₹1,300 to ₹1,450 per share.
The company plans to use much of the money to pay down loans held by its telecom business.
Existing Reliance Industries shareholders may be able to apply through a reserved category, depending on the final rules and record date.
Jio Platforms is reportedly expected to file final IPO documents with SEBI during the week beginning 12 October; the exact year is not specified in that report.
The IPO could raise about $3.8 billion through up to 27 crore new shares, around 2.9% of post-issue equity.
A subscription opening on 21 October and listing on 28 October have been reported, but neither date is confirmed in final offer documents.
The price band is not official; media and market estimates put it at ₹1,300–₹1,450 per share, while the article’s GMP section gives inconsistent projected listing figures.
Proceeds are expected to help repay or prepay up to ₹27,500 crore of Reliance Jio Infocomm borrowings, with the remainder for general corporate purposes.
- Who
- Jio Platforms, a Reliance Industries-backed digital services company.
- What
- A proposed IPO of up to 27 crore new shares that could raise about $3.8 billion.
- Where
- India.
- When
- Final documents are reportedly expected in the week beginning 12 October; reported subscription and listing dates are 21 October and 28 October, respectively. The article does not confirm the dates or specify the year for these October dates.
- Why
- The draft prospectus says proceeds are expected to repay or prepay Reliance Jio Infocomm borrowings, with the remaining funds for general corporate purposes.
Key facts
- Proposed issue
- Up to 27 crore fresh equity shares, about 2.9% of post-issue equity.
- Potential proceeds
- Around $3.8 billion.
- Estimated valuation
- About $137 billion, according to people cited in earlier reports.
- Reported subscription opening
- 21 October; not officially confirmed in final offer documents.
- Reported listing
- 28 October; not officially confirmed in final offer documents.
- Indicative price range
- ₹1,300–₹1,450 per share, based on market sources and media reports; the official band has not been announced.
- Use of proceeds
- A significant portion is expected to repay or prepay around ₹27,500 crore of Reliance Jio Infocomm borrowings; remaining proceeds are for general corporate purposes.
- Shareholder reservation
- Eligible Reliance Industries shareholders may apply in the reserved category; the record date is yet to be announced.
Sources
Related news
Jio Platforms IPO May Open October 21, Set for Record Listing
Jio IPO Grey-Market Premium Rises Ahead of Expected Listing
Jio Platforms IPO Nears, With October Listing Reported
Jio Platforms IPO May Open October 21, Targeting Debt Repayment
Jio Platforms IPO Plans Point to Record-Breaking Indian Share Sale
Jio IPO Could Rank Among India's Biggest Public Offerings
Jio Platforms Shifts From Network Expansion to Monetisation Ahead of IPO
