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Jio Platforms will more likely than not clear its ₹30,213 crore IPO in full and reset India's listing bar.
For operators
Jio Platforms' INR 30,213 crore IPO is mainly a debt paydown, with up to INR 27,500 crore prepaying Reliance Jio Infocomm borrowings, so retail operators should not read it as new retail or commerce spending.
Watch
Reliance shareholder quota subscribed past the ₹2,500 crore reserved by issue close would mean retail demand is firm and the record size clears without a price cut.
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Which other retail IPOs are coming up?The report, : Jio Platforms files red herring prospectus for INR 30,213 crore IPO, India's largest ever
Jio Platforms is selling up to 270 million fresh shares, topping Hyundai Motor India's INR 27,859 crore offering. Up to INR 27,500 crore of proceeds will prepay borrowings at Reliance Jio Infocomm. The filing was made on Wednesday.
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Reported figures
From the report. Source details below
| Reliance shareholder reservation: | up to INR 2,500 crore |
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What to watch next
- Price band and anchor allocation announced before the issue opens
- Employee quota of up to ₹500 crore subscribed by issue close
- Listing-day close against the issue price
- First filing after listing showing prepayment of Reliance Jio Infocomm borrowings