Jio IPO: Preparations are underway for the launch of the IPO of Mukesh Ambani’s telecom company, Jio. A new update regarding the IPO has emerged. According to media reports, the Jio IPO could launch around Dussehra. The size of the IPO is estimated to be around $4 billion (approximately ₹37,700 crore), and it could be listed on the market on October 28.
Reports suggest the company might file its Red Herring Prospectus (RHP) after October 12, with the price band likely set between ₹1,150 and ₹1,220 per share. The issue could remain open for general investors from October 21 to October 23.
Know the Jio IPO Dates
The RHP for the Jio IPO is expected to be filed after October 12. Subsequently, the IPO could open for anchor investors on October 19, followed by the opening for the general public from October 21 to October 23. The listing date is tentatively set for October 28.
Media reports indicate that the management of Jio Platforms is aiming to complete all IPO-related formalities by October 30.
Entirely a Fresh Issue
It is worth noting that the Jio IPO will be an entirely fresh issue. The company’s draft prospectus suggests that the company could issue approximately 27 crore new shares. There will be no ‘Offer for Sale’ (OFS) component; this means that no major investors are selling their shares and will instead retain their stakes in the company.
Major investors include Meta, Google, Silver Lake, and KKR. Through this issue, the company’s total valuation could reach or exceed ₹9.5 lakh crore. Disclaimer: If you are planning to invest in any stock, make sure to consult a certified investment advisor before doing so, as investing in the stock market involves market risks.