BusinessPhoto: Firstpost BusinessJio IPO Valued at Rs 10.3 Lakh Crore with Existing Investors Retaining Stakes
Jio Platforms, Reliance Industries' digital and telecom arm, has set its IPO price band between Rs 1,065 and Rs 1,119 per share, valuing the company at about Rs 10.3 lakh crore at the upper end. The IPO opens on October 21 and closes on October 23, aiming to raise around Rs 37,700 crore through a fresh sale of 27 crore shares. Existing investors like Meta and Google will not sell shares, so the IPO will bring fresh capital. Proceeds will mainly repay borrowings at Reliance Jio Infocomm. The IPO is set to be India's largest, surpassing Hyundai Motor India's Rs...
Firstpost Business·



