Reliance Industries' Jio Platforms to launch India's biggest IPO 37,700cr
Jio Platforms, part of Reliance Industries, is about to roll out India's biggest IPO ever, aiming to raise $3.8 billion (₹37,700 crore).
The action starts with anchor investors on October 19, followed by the public issue from October 21-23.
Shares are priced between ₹1,150 and ₹1,220 each and will hit the stock exchanges on October 28.
Jio IPO earmarks 27,500cr for debt
Up to ₹27,500 crore will go toward prepayment of Reliance Jio Infocomm Ltd (RJIL), Jio Platforms's operating subsidiary's hefty debt and supporting future plans.
Meta Platforms affiliate Jaadhu Holdings and Google International are among the investors.
After completing its overseas roadshows, Jio is set to file its official prospectus just after October 12, so if you're curious about its business or thinking of investing, keep an eye out for those details soon.