Jio Platforms’ IPO likely to open in October as foreign investors give favourable feedback
- Jio Platforms plans to open its Initial Public Offering IPO for subscription from 21-23 October, with debut expected on 28 October.
- Foreign institutional investors gave "unusually positive" feedback, pointing to a premium over listed peers.
- The IPO will use proceeds to repay about Rs 27,500 crore of Reliance Jio Infocomm's outstanding borrowings.
- Reliance Jio had 524.4 million customers as of 31 March, making it India's largest telecom operator.
Source: moneycontrol.com
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