Jio Platforms Sets Terms for India’s Potential $3.2 Billion IPO

Jio Platforms plans to raise as much as $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. The Reliance Industries unit plans to sell up to 270 million new shares at ₹1,065 to ₹1,119 each. The IPO is scheduled to open Oct. 21 and close Oct. 23, with anchor investor bidding set for Oct. 19. At the top of the price range, Jio would have a valuation of about $108.3 billion, based on its expected share count after the offering.

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