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Highlights
- Reliance Jio, India's largest telecom operator, has concluded its global roadshows for the upcoming Initial Public Offering (IPO).
- The IPO will not exactly be for Jio, it will be for the parent company of Reliance Jio Infocomm, which is Jio Platforms Limited.
- The global roadshows for the company's IPO have now been concluded.
Andrew Bonwick
Vice President of Product Development at Relm Insurance
Madhav Sheth
CEO of Ai+ Smartphone
Stephen Rose
CEO Render Networks
Reliance Jio, India’s largest telecom operator, has concluded its global roadshows for the upcoming Initial Public Offering (IPO). The IPO will not exactly be for Jio, it will be for the parent company of Reliance Jio Infocomm, which is Jio Platforms Limited. The global roadshows for the company’s IPO have now been concluded. The roadshows were led by Reliance Jio chairman Akash Ambani and Reliance Retail Executive Director Isha Ambani.
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“Jio Platforms has completed the first leg of the IPO after roadshows with potential investors globally. The roadshows were held in the US, UK, Dubai, Singapore and Hong Kong. Now, the company has started preparations for filing a red herring prospectus,” said a PTI report quoting a source.
Reliance Jio IPO to be the Largest in the Country
Reliance Jio will soon launch its $3.8 billion IPO, touted as the biggest one in the country till now. As per the Draft Red Herring Prospectus (DRHP) submitted by Jio Platforms, the company plans to issue up to 27 crore shares in the IPO. The proceeds will be primarily used to pay or repay about Rs 27,500 crore of the outstanding borrowings of the company.
This will be an IPO which even the global markets will focus on. Companies such as Meta, Google, and more are also going to benefit from a successful an IPO of Jio. These companies are existing shareholders and are not going to be selling their stake for now. Jio is issuing fresh shares in the market. The company’s valuation right upon listing is expected to be between $130 to $170 billion USD. This would directly make Jio one of the most valuable companies in the market, right as it lists. The exact date of the IPO has not been revealed, but it is expected to take place in the first week of November, right as the festive season starts.
