Jio Platforms IPO set October 21-23 amid international investor interest
Business
Jio Platforms, the digital arm of Reliance, is finally going public.
The IPO is set for October 21-23, and if all goes smoothly, shares should hit the stock market by October 28.
There's already strong buzz from international investors, which could help Jio score a higher valuation than its rivals.
Most funds for Jio ₹27,500cr debt
Half the IPO shares are set aside for regular and high-net-worth investors; the rest go to big institutions.
Most of the money raised will be used to repay or prepay, in whole or in part, Reliance Jio Infocomm's hefty ₹27,500 crore debt.
Even with recent market ups and downs, investor interest is solid as Jio looks to boost its digital services (think faster internet and more tech upgrades) after getting regulatory approval in August.