Jio Platforms IPO: ₹37,700 Crore Mega Issue Likely to Open on October 21

Reliance Industries’ digital services arm Jio Platforms is reportedly gearing up for its much-awaited initial public offering (IPO). According to recent media reports, the ₹37,700-crore public issue is expected to open for subscription on October 21 and close on October 23, while the anchor bidding could begin on October 19. The shares may be listed on the stock exchanges on October 28, although the proposed schedule could change depending on market conditions. Jio Platforms’ draft IPO documents provide for a fresh issue of up to 27 crore equity shares, representing around 2.9% of its post-issue equity capital.

The company plans to use a major portion of the IPO proceeds to repay or prepay borrowings of around ₹27,500 crore raised by its material subsidiary, Reliance Jio Infocomm. The remaining funds are earmarked for general corporate purposes. Jio Platforms has already received SEBI approval for the proposed issue, which is being closely watched as one of the largest IPOs in India.