India’s Jio Lures Marquee Investors to IPO Anchor Book, Bids Top $25 Billion
Anchor investors placed more than $25 billion in bids, signaling strong demand for Jio’s technology and cloud expansion plans.
- On Wednesday, October 21, Jio Platforms, the digital arm of Reliance Industries, opened its initial public offering for subscription at a price band of ₹1,065 to ₹1,119 per share.
- Reliance plans to use up to ₹275 billion from proceeds to prepay debt at Reliance Jio Infocomm, the telecom subsidiary, as investor skepticism regarding the company's tech-focused valuation preceded the offering.
- Anchor investors bid over $25 billion for the offering, while Meta and Google, holding nearly 10% and 8% stakes respectively, are retaining their investments, signaling significant institutional backing.
- Jio shares are expected to list on October 28, testing market appetite against competitor Bharti Airtel, amid a public dispute between owner Mukesh Ambani and Elon Musk regarding Starlink's market entry.
- Future growth involves funding 'gigawatt-scale green AI infrastructure' and a 1,650-satellite constellation, reflecting Jio's aggressive pivot toward satellite communications and long-term digital ecosystem expansion.
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131 Articles
Analysis: Jio IPO headline scale masks deeper issues
Following the news that India-based telecom giant Jio Platforms Limited is preparing a record INR302.13 billion (€2.84bn) IPO, Murthy Grandhi, Company Profiles Analyst at data and analytics company GlobalData, has suggested this masks several financial and structural questions. “The proposed IPO is set to be India’s largest-ever public offering,” he notes.” Jio Platforms has more […]
New Delhi, Oct 21 (EFE).- Jio Platforms, the telecommunications giant of tycoon Mukesh Ambani, opened on Wednesday the subscription period of his initial public offer (OPI), the first major phase of his outing on the stock market, an operation of up to $3.2 billion that became the largest in the history of [...] Entry Five Keys to Understanding Jio's Historic Out-to-Bock Offer in India was first published in HolaNews.
Jio Platforms, the telecommunications and digital business owned by billionaire Mukesh Ambani, successfully completed its initial public offering (IPO), with all shares fully subscribed in less than two hours.
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