Reliance Industries backed Jio Platforms to launch IPO October 21
Business
Jio Platforms, backed by Reliance Industries, is launching its IPO on October 21.
They're offering a fresh issue of up to 27 crore shares priced between ₹1,065 and ₹1,119 each, which could raise about ₹30,213 crore at the top of the range.
Unlike some IPOs, there's no offer-for-sale here; it's all about fresh shares.
Jio Platforms eyes global 5G expansion
Right now, almost all of Jio's revenue comes from India. But the company has its sights set on global markets, especially by pitching its own 5G tech to international network operators.
With a big digital workforce and loads of patents in hand, Jio wants to make a name for itself as a tech player worldwide.