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Jio Platforms IPO likely to open on October 21

Jio Platforms’ mega IPO is expected to open between October 21 and 23. The anchor investor round is likely on October 19. The shares could list around October 28. The offering will raise about 37,700 crore rupees through 27 crore fresh shares. Most of the money will be used to repay Reliance Jio Infocomm’s debt. Around 27,500 crore rupees is earmarked for that. The market regulator SEBI cleared the IPO on August 28. There will be no offer-for-sale component. All the money raised will go into the company. The IPO is expected to be one of India’s largest ever. Jio Platforms is the digital arm of Reliance Industries. It runs telecom, digital services and the Jio network. Investors are watching the issue closely for its valuation. The IPO is expected to be one of India’s largest ever. Jio Platforms is the digital arm of Reliance Industries. It runs the Jio telecom network and digital services. Investors are watching the issue closely for its valuation.

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