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Jio Platforms IPO reportedly opens Oct 21, targeting Rs 37,000-38,000 crore in what would be India's biggest listing

Latest update, : Jio Platforms IPO set to open 21 October, list 28 October; Akash Ambani calls it a 'great responsibility'

Jio Platforms is likely to open its IPO on October 21 and close it on October 23, with listing expected on October 28. Reports put the raise at Rs 37,000-38,000 crore, which would be India's biggest IPO. Pricing is not yet final.

Newer report , , Financial Express : Jio Platforms IPO, expected to raise about $3.8 billion, is just the start of next growth phase, says Akash Ambani

Read next

  1. Jio Platforms targets Rs 11 lakh crore IPO valuation; October listing likely, , Business Today
  2. Telecom Q2 preview: Elara expects Jio to add 7.2 mn and Airtel 4.1 mn mobile subscribers in September quarter, , Fortune India

What we verified

Checked against the other reports of this story.

Why it matters to operators and investors

If the Oct 28 listing holds, Jio's valuation will set a public benchmark for scaled digital-consumer platforms and may crowd the IPO calendar for retail and consumer-tech issuers, so pressure-test any partnership, valuation or listing-timing assumptions against this reported but unconfirmed deal.

What to watch next

  • Formal price band and final offer size announced versus the reported Rs 37,000-38,000 crore
  • Anchor investor allocation disclosed the day before the Oct 21 opening
  • Day-three subscription multiples in the retail and HNI categories on Oct 23
  • Any change to the Oct 21-23 subscription dates or the Oct 28 listing date
  • Oct 28 listing-day price versus the issue price, and the use-of-proceeds split confirming the Rs 27,500 crore debt allocation

Likely next moves

Our read of what comes next — analysis, not reported by the source.

  • Jio Platforms is likely to announce a price band and open an anchor book just before Oct 21 to lock in institutional demand before retail opens.
  • Expect Jio Platforms to lean on its debt-reduction story, with about Rs 27,500 crore of proceeds reported for repayment or prepayment, in its investor marketing.
  • Lenders holding Jio-linked debt are likely to see repayment or prepayment flows shortly after the Oct 28 listing if the issue closes as reported.
  • Brokerages and retail investors are likely to treat the half of the offer reserved for retail and HNI as a headline event, and heavy applications in those categories are probable.
  • Listed telecom and digital rivals may see sympathetic share moves around the subscription window as investors compare valuations with Jio.

Updates

Each later report on this story, newest first. Earlier entries are never edited; a correction is a new entry.

  1. Read the update at Moneycontrol

    Jio Platforms IPO set to open 21 October, list 28 October; Akash Ambani calls it a 'great responsibility'

    • Anchor book expected to open: October 19

On the record

Earlier Jio Platforms reports on RetailIntel, newest first.

  1. : Jio Platforms, OYO and Zepto have SEBI approval for IPOs; PhonePe awaits clearance
  2. : Jio Platforms finalises documents for estimated $3.8 billion IPO
  3. : Jio Platforms received SEBI observations in August for proposed IPO; launch dates still pending

The numbers

Figures from Business Today,

Debt to be repaid or prepaid: Rs 27,500 crore
Share of offer for retail and HNI: 50 per cent
Reliance Jio Infocomm customers as of March 31: 524.4 million
Jio 5G customers: 268.5 million

The source

Source Read the source at Business Today

Published

Confirmed by Financial Express, Times of India, Mint, NDTV Profit, Moneycontrol

First seen

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