Stories
Jio Platforms Leads Dalal Street with India's Largest Ever IPO
- •Jio Platforms is set to launch India's largest ever initial public offering, aiming to raise Rs 30,187.6 crore starting October 21.
- •The price band for the Jio Platforms IPO has been fixed at Rs 1,065 to Rs 1,119 per share, targeting a total valuation of around Rs 10.3 lakh crore.
- •The company plans to utilize Rs 27,500 crore of the IPO proceeds to repay debt taken by its material subsidiary, Reliance Jio Infocomm.
- •Gurugram-based hospital chain Paras Healthcare is the second mainboard IPO of the week, aiming to raise Rs 1,450 crore.
- •Four other mainboard IPOs including Zetwerk and Tonbo Imaging are scheduled to close on October 19 ahead of a busy listing week.
Key Questions Answered
The Jio Platforms IPO will open for public subscription from October 21 to October 23, with its anchor book opening on October 19. The price band is set at Rs 1,065–1,119 per share, and the company aims to raise Rs 30,187.6 crore through a fresh issue of 27 crore equity shares, making it India's largest IPO.
Jio Platforms plans to use Rs 27,500 crore of the IPO proceeds to fully or partially repay outstanding borrowings taken by its material subsidiary, Reliance Jio Infocomm, which stood at Rs 29,917.1 crore. The remaining funds will be allocated for general corporate purposes.
Gurugram-based hospital chain Paras Healthcare is the second mainboard IPO of the week, following the same subscription schedule as Jio Platforms. The company plans to raise Rs 1,450 crore at a price band of Rs 660–693 per share, consisting of a fresh issue worth Rs 500 crore and an offer for sale of Rs 650 crore. It intends to use Rs 375 crore of the net proceeds to repay debt.
