IPO▲ Bullish for Jio
Jio Platforms reportedly seeks ₹11 lakh crore IPO valuation
The brief
- The reported target valuation is about ₹11 lakh crore, below earlier estimates of up to $170 billion
- Jio Platforms has finished gauging demand and may begin investor meetings
- The proposed valuation could shape Reliance Industries’ market value and investor expectations for its telecom arm
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Jio Platforms’ planned IPO
Jio Platforms is targeting an October 21 IPO that could raise $3.8 billion, with reports citing a valuation of $143–146 billion and a proposed issue of 27 crore shares. IPO proceeds are expected largely to repay debt owed by Jio’s telecoms division.
Tuesday, 6 October
- Jio Platforms reportedly seeks ₹11 lakh crore IPO valuation