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Jio Platforms may hit market at $146 bn valuation
In Short
Jio Platforms plans to file final IPO papers with SEBI next week, aiming to raise $3.8 billion in what is projected to be India's largest public offering.
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Jio Platforms may hit market at $146 bn valuation
New Delhi: Jio Platforms is likely to list by the end of October at an enterprise valuation of USD 143-146 billion, or more than Rs 12 lakh crore, sources tracking the development said.
The IPO is expected to be India's largest public offer, with the issue size estimated at around USD 3.8 billion.
The company has completed overseas roadshows in the US, UK, Dubai, Hong Kong and Singapore and is expected to file final papers with market regulator SEBI in the week starting October 12, banking sources said.
Jio Platforms is also expected to conduct an India roadshow after filing the red herring prospectus. An anchor round could begin before Dussehra, with the issue likely to open after Dussehra and before October 23.
SEBI issued its final observations on August 28. Jio Platforms had filed its draft IPO papers in June and plans to issue up to 27 crore fresh equity shares, or about 2.9% of its post-issue equity base.
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