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Jio Platforms IPO Could Open October 21, Listing October 28
Jio Platforms is preparing to sell shares to the public.
The IPO may open on October 21 and close on October 23.
Some large investors may be able to apply starting October 19.
The shares could begin trading on October 28.
These dates are not final and could change with market conditions.
The company has not yet decided how much the shares will cost or how large the IPO will be.
The money raised is expected to help repay some loans owed by Reliance Jio Infocomm.
The rest may be used for general company needs.
The proposed plan sets aside half the offering for retail and high-net-worth investors and half for institutional investors.
Jio Platforms may open its IPO for subscriptions on October 21 and close it on October 23.
The anchor book is expected to open October 19, with listing potentially scheduled for October 28.
The dates are tentative and may change based on market conditions and global developments.
The IPO size, price band and valuation have not been finalized; the issue is expected to consist entirely of new shares.
A substantial portion of proceeds may go toward repaying or prepaying about Rs 27,500 crore in Reliance Jio Infocomm borrowings.
- Who
- Jio Platforms, the digital holding company of Reliance Industries.
- What
- A proposed initial public offering, with tentative subscription and listing dates.
- Where
- India's stock exchanges.
- When
- The IPO may open October 21 and close October 23; the anchor book may open October 19, and listing may take place October 28. The year is not specified for these proposed dates.
- Why
- The IPO would raise funds, with a significant portion expected to repay or prepay Reliance Jio Infocomm borrowings.
Key facts
- Anchor book
- Expected to open October 19.
- IPO subscription period
- Expected October 21–23.
- Potential listing date
- October 28, subject to market conditions.
- Issue structure
- Expected to consist entirely of fresh shares.
- Proposed debt repayment
- Around Rs 27,500 crore of Reliance Jio Infocomm borrowings may be repaid or prepaid.
- Proposed allocation
- 50% for retail and high-net-worth investors; 50% for institutional investors.
- Regulatory status
- Jio filed its draft prospectus with SEBI in June; SEBI issued final observations on August 28.
Quotes
Akash Ambani
Managing director of Jio Platforms Limited
“Jio today is much more than a telecom company. We are building original technology in India across connectivity, digital products, enterprise solutions and AI.”
news18.com
Sources
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