Jio sets IPO price band as Reliance shares draw focus
In short
Jio Platforms filed its prospectus on Wednesday and set the price band for its IPO. The issue is worth Rs 30,213 crore, opens on October 21, and closes on October 23. The grey market premium rose to Rs 220, suggesting about a 20% premium over the top price of Rs 1,119.
This matters because the offering could become India’s biggest public issue and may affect Reliance Industries shares. The reporting does not say the final listing date or the exact price investors will pay.
What the reporting says
Jio Platforms filed its red herring prospectus on Wednesday and set a price band for its IPO, with the issue sized at Rs 30,213 crore and opening on October 21 before closing on October 23. The grey market premium rose to Rs 220, implying a nearly 20% premium over the upper price band of Rs 1,119, while analysts still mostly rate Reliance Industries a buy. The reporting does not state the final listing date or the issue price.
Why it matters
Jio Platforms filed its red herring prospectus on Wednesday and set a price band for what is described as India’s largest IPO, valued at Rs 30,213 crore. The offering opens on October 21 and closes on October 23, and the grey market premium rose to Rs 220, implying nearly a 20% premium over the upper band of Rs 1,119. The report also says 30 of 31 analysts rate Reliance Industries a buy, but the final listing outcome is still unknown.