Stories
Jio Platforms IPO Expected to Open on October 21 with Listing on October 28
- •Jio Platforms, the digital arm of Reliance Industries, is reportedly planning to launch its IPO on October 21, with the listing expected on October 28.
- •The anchor book is slated to open on October 19 and the subscription will close on October 23, subject to market conditions.
- •The IPO is expected to consist entirely of fresh shares, with proceeds primarily used to repay around Rs 27,500 crore of outstanding borrowings of Reliance Jio Infocomm.
- •Under the proposed structure, 50% of the issue is earmarked for retail and HNI investors, while the remaining 50% is allocated to institutional investors.
- •Reliance Jio remains India's largest telecom operator with 524.4 million customers as of March 31, alongside significant 5G and fixed wireless access subscriber bases.
Key Questions Answered
The Jio Platforms IPO is expected to open for subscription on October 21, close on October 23, and list on the stock exchanges on October 28, with the anchor book potentially opening on October 19. However, these dates remain subject to prevailing market conditions and global financial developments.
Jio Platforms plans to use a significant portion of the IPO proceeds, specifically around Rs 27,500 crore (or about $3.3 billion), to fully or partly repay and prepay the outstanding borrowings of Reliance Jio Infocomm. The remaining funds will be allocated toward general corporate purposes.
Under the proposed structure, 50% of the IPO is earmarked for retail and high-net-worth individual (HNI) investors, while the remaining 50% is allocated to institutional investors. Within the retail and HNI segment, 35% is reserved for retail applicants investing up to Rs 2 lakh, and 15% is split among larger investors.
