Jio Platforms IPO Set for October 21, Listing Likely on October 28
Jio Platforms is reportedly planning a $3.8 billion IPO that could become India’s biggest stock market listing if the issue goes ahead as planned.
Jio Platforms, owned by Mukesh Ambani, is reportedly planning to launch its initial public offering on October 21, with the shares expected to list on October 28, according to sources cited in the report.
The company is looking to raise around $3.8 billion. If completed at that size, the IPO would overtake Hyundai Motor India’s $2.9 billion listing in 2024 and become India’s biggest stock market debut.
A large portion of the proceeds is expected to be used to repay debt held by Jio’s telecom business.
Jio Platforms has major global investors including Meta and Google. Its operations extend beyond telecom into areas such as artificial intelligence, cloud services and enterprise networking.
The planned IPO comes during a strong period for India’s primary market. Funds raised through IPOs between April and September reached a record for the period, while hundreds of companies are reportedly preparing to tap investors.
Around 250 companies are in the pipeline to raise a combined Rs 4.65 trillion, according to PRIME Database.
If Jio’s plans stay on schedule, October could bring a blockbuster market debut. The stock market calendar, it seems, has decided to add another Ambani-sized headline.
