Jio Platforms IPO Investor Interest Builds As Potential Bids Cross $20 Billion Ahead Of October 21 Opening

As Dalal Street awaits the much-anticipated Jio Platforms IPO, the Reliance Industries-led digital and telecom company may draw more than $20 billion in bids from domestic and global investors, signalling strong appetite ahead of the issue's expected opening on October 21.

The potential demand is several times the size of the proposed public issue, which is expected to raise around ₹30,000 crore and could become India's biggest IPO. Jio Platforms is reportedly looking at a valuation of at least ₹10.3 lakh crore, while the anchor book is expected to open on October 19, followed by public subscription from October 21. The company's draft papers provide for a fresh issue of up to 27 crore equity shares, with no offer-for-sale component.

The latest indication of investor demand comes just days before the proposed launch and adds to the buzz around one of Dalal Street's most closely watched public issues. Attention is now shifting from when Jio will enter the market to how strong demand could be when the issue opens for bidding.

Over $20 Billion In Bids Expected Ahead Of IPO

Jio Platforms could receive more than $20 billion in bids as institutional investors line up for the offering, according to a Bloomberg report cited by The Economic Times. The interest is expected to come from both global and domestic investors as the company moves closer to launching the issue.

The size of the potential bids is particularly notable when compared with the amount the company is expected to raise. At around ₹30,000 crore, or roughly $3.4 billion, reported investor interest would be several times the proposed issue size.

The offering is also expected to set a new benchmark for India's primary market. If the reported issue size holds, it would surpass Hyundai Motor India's ₹27,870 crore IPO in 2024 to become the country's largest public issue.

Jio Platforms houses Reliance Industries' digital businesses, including its telecom operations. The proposed listing will give public-market investors direct access to the business after years of anticipation around its stock market debut.

Jio Platforms IPO: Date, Issue Size And Price Band

The anchor investor portion is expected to open on October 19, followed by the public issue on October 21. The offer is expected to close on October 23, with the shares likely to list on the stock exchanges on October 28, according to current reports.

Jio Platforms' draft papers provide for a fresh issue of up to 27 crore equity shares, with no shares being sold through an offer for sale. The absence of an OFS means the money raised through the IPO will go to the company rather than existing shareholders.

The company is expected to raise around ₹30,000 crore through the offering. The final price band and other issue terms should be treated as confirmed once formally announced by the company.

At a reported valuation of at least ₹10.3 lakh crore, the IPO would place Jio Platforms among India's most valuable listed companies from the time of its market debut.

With the proposed opening now just days away, the $20 billion-plus potential demand has emerged as the latest major development around the issue. The focus will next shift to the final offer terms, anchor investor participation and the level of subscription once bidding begins.

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