India's Jio IPO opens for public bids in record $3.2 billion sale
Business Recorder • • 1 min read
Jio Platforms’ $3.2 billion share offering opened for public bids on Wednesday, in what Business Recorder described as India’s largest IPO to date. The sale closes on Friday, with shares priced between 1,065 and 1,119 rupees each; trading is scheduled to begin on October 28.
The company is valued at up to $108.3 billion, and roughly one-third of the shares are set aside for retail buyers. Before public bidding began, Jio allocated $853 million of shares to investors including Abu Dhabi Investment Authority and BlackRock, after bids for that reserved allocation exceeded $25 billion. The listing is Reliance’s first IPO since 2006, and Jio’s telecom business has more than 500 million subscribers.
At a glance
- Jio Platforms’ $3.2 billion IPO opened for public bids on Wednesday.
- The offering values the company at up to $108.3 billion.
- The reserved investor allocation attracted bids exceeding $25 billion.
Originally reported by Business Recorder
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