From TokenPost · · 1m
Jio Platforms Sets $3.2 Billion IPO Terms
Jio Platforms aims to raise $3.2 billion in India's largest potential IPO, using funds to repay debt at Reliance Jio Infocomm.
In brief
Jio Platforms aims to raise $3.2 billion in India's largest potential IPO, using funds to repay debt at Reliance Jio Infocomm. Jio Platforms plans to issue up to 270 million shares at ₹1,065 to ₹1,119 each for a $3.2 billion IPO, with most proceeds repaying debt at its telecom subsidiary. Originally reported by…
Jio Platforms IPO Plan
Jio Platforms plans to raise up to $3.2 billion in an offering that would set a record for India if completed, with most proceeds designated to repay debt at its telecom subsidiary.
Share Price Range
The Reliance Industries unit plans to sell up to 270 million new shares at ₹1,065 to ₹1,119 each, with the IPO opening Oct. 21 and closing Oct. 23.
Debt Repayment Strategy
Jio plans to use up to $2.9 billion to repay debt at Reliance Jio Infocomm, with remaining proceeds for general corporate purposes.
The key point
Jio Platforms plans to issue up to 270 million shares at ₹1,065 to ₹1,119 each for a $3.2 billion IPO, with most proceeds repaying debt at its telecom subsidiary.
