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Reliance Jio IPO Price Band Expected to be Rs 1350-1450

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Reliance Jio IPO Price Band Expected to be Rs 1350-1450

Reliance Jio, India’s largest telecom operator, will soon be listed publicly as a separate entity. Jio Platforms is the parent company of Reliance Jio, and it will be listed in the stock exchanges, to be precise. The IPO size of Jio Platforms is estimated to be Rs 37,700 crore. The market expectations are that the IPO will hit the stock exchanges in November, and the price band will be around Rs 1350 to Rs 1450 per share. The proposed IPO would be the largest IPO in the history of Indian stock exchanges.

The price band mentioned above comes from a report from the Fortune India, which quoted sources on anonymity. The telco’s IPO has been delayed due to the global scenarios. Reliance Industries is yet to confirm the price band officially. The SEBI (Securities and Exchange Board of India) has already given its nod to Jio Platforms for going ahead with the IPO.

As per the DRHP (Draft Red Herring Prospectus), this will be a fresh issue of shares from the company to raise capital. It was initially conceptualised as an offer for sale (OFS), but then Reliance Industries did not want things to go ahead that way. Jio Platforms has shared with the SEBI that it wants to use the money raised to reduce high interest debt from the its balance sheet. It will free up Jio to move ahead more freely. In addition, some part of the funds will be used to fuel growth for the company’s infrastructure.



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