Business
Jio Platforms IPO eyed near $143 billion valuation
The Hindu BusinessLine··4 Oct
Banking sources said Jio Platforms may list by month-end at a $143-146 billion enterprise valuation. They put the offer size around $3.8 billion. Final SEBI papers are expected in the week starting October 12. The draft covers up to 27 crore fresh shares, about 2.9 percent of the post-issue base. SEBI cleared observations on August 28.
Prism
What It Means For You
- Sources said an India roadshow is expected in the week starting October 12 after the red herring prospectus.
- They said an anchor round may start before Dussehra, with the issue opening before October 23.
- Retail and institutional investors would see India's largest public offer if the $3.8 billion size holds.
What's Happening
- Overseas roadshows in the US, UK, Dubai, Hong Kong and Singapore have concluded, sources said.
- Akash Ambani and Isha Ambani led those meetings, according to banking and event sources.
- Jio Platforms did not reply to an email seeking comment on the reported timeline.
Where the offer papers stand
- Jio Platforms filed draft IPO papers in June, and SEBI issued final observations on August 28.
- The draft prospectus plans up to 27 crore fresh equity shares.
- More than two dozen IPOs have been announced or launched since July 1, sources noted.
all-news
