After much waiting, Jio Platforms Ltd (JPL), the digital and telecom arm of Reliance Industries, has finally filed its red herring prospectus for an initial public offering, which is expected to be India's largest IPO so far.
As per Reliance, the IPO is a fresh issue of up to 27 crore equity shares of Rs 10 face value each. The public bidding window is expected to open for subscription on October 21 and will close on October 23. Anchor investor bidding is on Monday, October 19. After the allotment of shares, the listing is expected to take place on October 28. The price of its shares is set to be between 1,065 and 1,119 rupees per share.
While the filing did not mention a price band, as per PTI, the company may be eyeing to raise about Rs 30,000 crore. The issue includes two reserved portions - up to Rs 500 crore for eligible JPL employees and up to Rs 2,500 crore for eligible Reliance shareholders, according to the filing.
According to people familiar with the matter, global investors including Fidelity, Allianz and Capital Group, as well as other international and local firms, have indicated interest in the IPO.
The filing also mentions that the company, which has businesses spanning telecoms, cloud computing, entertainment and AI services, will offer 270 million shares in the IPO.
Important details on Reliance JIO IPO:
For investors who are looking forward to applying for the Reliance JIO IPO, the minimum investment required is ₹13,845 for a minimum lot size of 13 shares. With an issue size of ₹30,213 crore, the shares of Reliance JIO are expected to be listed on BSE and NSE.
As per Reliance, the company operates a vast, future-ready network infrastructure, including access to 360,382 towers and over 1 million route-km of fibre across the country.
