Jio Platforms IPO Likely to Open on October 21, with the Reliance Industries-backed digital services company expected to launch its much-awaited public issue later this month and target a stock-market listing on October 28, according to reports citing people familiar with the development.
The proposed IPO is expected to raise around $3.8 billion.
If completed at that size, it could become India’s largest public issue, surpassing Hyundai Motor India’s 2024 IPO.
Jio Platforms IPO Likely to Open on October 21
The issue is expected to open for subscription on October 21 and close on October 23, while the anchor book is likely to open on October 19.
The shares are expected to list on the stock exchanges on October 28.
The reported timeline is not yet an official announcement from Jio Platforms.
The company is expected to file its final IPO documents after October 12, following the approval received from the Securities and Exchange Board of India in August.
Jio Platforms IPO Could Set New Record
The proposed issue is estimated at around $3.8 billion, or roughly Rs 37,700 crore based on recent reports.
If the issue reaches that size, it would overtake Hyundai Motor India’s $2.9 billion IPO as the country’s largest.
Jio Platforms is reportedly targeting an enterprise valuation of around $143 billion to $146 billion.
The company had filed its draft IPO papers in June and received Sebi’s final observations on August 28.
The draft prospectus proposes a fresh issue of up to 27 crore equity shares.
The proceeds are primarily intended for prepayment of certain borrowings of Reliance Jio Infocomm, along with general corporate purposes.
What Investors Should Know About Jio IPO
Jio Platforms houses Reliance’s digital businesses, including its telecommunications operations.
Its businesses also include digital services and other technology-focused activities such as AI, cloud and enterprise networking.
The proposed IPO comes at a time when India’s primary market is witnessing strong activity, with several companies preparing to raise funds through public offerings.
For investors, the final price band, lot size, subscription details and other key terms will become clearer once the company files its final offer documents.
Until then, the October 21 opening and October 28 listing dates should be treated as expected timelines rather than confirmed dates.
Jio Platforms IPO Likely to Open on October 21 and could become a landmark public issue if the reported size and timeline materialise.
Investors will need to wait for the final IPO documents for confirmed details.
