Meta- and Google-backed Jio Platforms to raise up to $3.2 billion in historic IPO in India
Jio's share sale will be India's largest ever in rupee terms, and second largest in dollar terms, trailing the Hyundai Motors IPO that raised $3.3 billion in 2024.
TL;DR
- Jio Platforms will raise up to 302 billion rupees ($3.2 billion) in an IPO from Oct. 21-23.
- This IPO will be India's largest in rupee terms and second largest in dollar terms.
- Jio Platforms, backed by Meta and Google, is India's largest telecom operator.
- The company will sell 270 million shares priced between 1,065 and 1,119 rupees.
- Jio Platforms' market valuation at the top price range is around $108 billion.
- Investors view Jio primarily as a telecom company, not a tech company.
- Reliance Industries holds over 66% stake in Jio Platforms.
- Jio plans to launch satellite communications services in India.