Reliance Jio IPO: The much-awaited Jio Platforms IPO is all set to hit the primary market on Wednesday, 21 October. Reliance Industries digital subsidiary company, on Wednesday, filed its Red Herring Prospectus (RHP) with the Registrar of Companies, Gujarat, at Ahmedabad.
Jio Platforms IPO, which will remain open for subscription till Friday, 23 October, also announced the IPO price band at ₹1,065– ₹1,119 per equity share. The company is expected to raise between ₹28,755 crore and ₹30,213 crore through the public issue.
Jio Platforms IPO comprises a completely fresh issue of up to 27 crore equity shares, with no offer-for-sale (OFS) component. This means that existing shareholders will not offload any of their holdings through the public issue.
The shares are slated to make their stock market debut on 28 October and are proposed to be listed on both BSE and NSE, according to the draft papers.
The revised issue size is nearly 14% lower than the approximately ₹35,000 crore proposed in the draft papers.