Jio Platforms aims for $4 billion IPO by late October or early November
Reliance Industries' Jio Platforms plans to launch its estimated $4 billion initial public offering before the end of October or in early November, potentially timed with Navratri or Diwali.
People familiar with the development indicate Jio Platforms may finalize its initial public offering by late October or early November. The telecom, digital, and technology division of Reliance Industries targets an estimated $4 billion raise, which would make it India's largest ever IPO if confirmed. A source close to the matter stated the launch could occur around Navratri days starting October 11 and ending October 20. If that window is unavailable, the company might target Diwali on November 8. Jio plans to conclude exact dates within two weeks, then conduct international roadshows followed by domestic sessions. The plan includes three weeks of overseas presentations and two weeks at home. Draft papers filed in June received approval from the Securities and Exchange Board of India on August 28 to launch.
