Stories
IPO Explosion in Stock Market This Week, Jio Platforms and Paras Healthcare in Focus
- •Reliance Industries digital arm Jio Platforms is launching its mega IPO worth Rs 30,187.6 crore, open for subscription from October 21 to October 23.
- •Jio Platforms plans to use a major portion of the IPO proceeds to repay its outstanding debt and become a net debt-free company very soon.
- •Gurugram-based Paras Healthcare is opening its Rs 1,450 crore IPO from October 21 to October 23, utilizing funds for loan repayment and hospital expansion.
- •Several key IPOs including Zetwerk Manufacturing, Sahajanand Medical Technologies, Bonfiglioli Transmissions, and Tonbo Imaging India are closing on October 19.
- •A total of nine companies across mainboard and SME segments are scheduled to make their stock exchange debuts during this holiday-shortened week.
Key Questions Answered
The Jio Platforms IPO will open for subscription on October 21 and close on October 23, with its price band fixed between Rs 1,065 and Rs 1,119 per share. General retail investors can apply for a minimum of 12 shares up to a maximum of 14 lots, requiring an investment between Rs 13,428 and Rs 1,87,992 at the upper limit of the price band.
After deducting issue expenses, Jio Platforms plans to use approximately Rs 27,500 crore from the proceeds to directly repay the outstanding debt of its main subsidiary, Reliance Jio Infocomm. This strategic debt repayment aims to make Jio Platforms a net debt-free company and accelerate its future business expansion.
Gurugram-based Paras Healthcare aims to raise about Rs 1,450 crore at the upper limit of its price band from October 21 to October 23. The public issue comprises a fresh issue of Rs 500 crore and an Offer for Sale of Rs 650 crore, with Rs 375 crore from the fresh issue designated to repay company loans and debts.
