Jio Platforms's ₹30,188cr IPO is India's biggest-ever, draws global investors
Jio Platforms, the digital and telecom arm of Mukesh Ambani-led Reliance Industries, is making waves with India's biggest-ever IPO at ₹30,188 crore.
Big international names like Allianz and BlackRock are lining up to invest, along with homegrown players such as SBI Mutual Fund.
It's a major moment for both Jio and the Indian stock market.
Jio offers 270 million new shares
Jio is offering 270 million new shares priced between ₹1,065 and ₹1,119 each: no shares are being sold by existing owners.
There's a special reserve for eligible RIL shareholders worth up to ₹2,500 crore and eligible Jio Platforms employees worth up to ₹500 crore.
Most of the money raised will go toward paying off Reliance Jio Infocomm's debt (₹27,500 crore), helping the company grow stronger in India's telecom scene.
Anchor investor bidding starts October 19; everyone else can apply from October 21-23.