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BusinessPhoto: News18 Business

Jio Platforms IPO Opens with Price Band Rs 1,065-1,119

Jio Platforms, the digital arm of Reliance Industries, launched its initial public offering (IPO) on October 21, lasting three days until October 23. The IPO price band is set between Rs 1,065 and Rs 1,119 per share, with a minimum lot size of 12 shares. The fresh issue includes about 27 crore equity shares, valuing Jio Platforms at around Rs 10.3 lakh crore at the upper price band, making it one of India’s most valuable listed companies if valuation holds post-listing.

News18 Business·

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BusinessPhoto: DNA India

US and India Close to Finalizing New Bilateral Trade Deal

US President Donald Trump and Secretary of State Marco Rubio have indicated that the United States and India are very close to finalizing a new bilateral trade agreement. Trump mentioned the deal could be significantly different but gave no details. Rubio, visiting India, confirmed small issues remain before completion. The two countries announced a framework for an interim trade deal in February 2024.

DNA India·

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BusinessPhoto: ET Markets

Jio IPO Fully Subscribed on Day 1 with 25% Grey Market Premium

Jio Platforms, led by Mukesh Ambani, saw its IPO fully subscribed on the first day, driven by strong demand from Qualified Institutional Buyers (QIBs). The IPO commanded a grey market premium of around 25%. Brokerages remain optimistic, highlighting Jio's leadership in telecom, improving profitability, and growth prospects in broadband and artificial intelligence (AI).

ET Markets·

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BusinessPhoto: TOI Business

Rupee Gains 29 Paise Against Dollar Amid Crude Price Pressure

The Indian rupee rose by 29 paise to 94.62 against the US dollar in early trade, supported by foreign investments related to the Jio IPO and RBI backing. However, rising crude oil prices limited further gains. The BSE Sensex also showed strong gains despite foreign institutional investors continuing to sell shares in the domestic market.

TOI Business·

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WorldPhoto: HT World

Education Dept. Panel Recommends Suspending APA Accreditation

A bipartisan advisory board to the U.S. Education Department voted 7-4 to recommend suspending the American Psychological Association's Commission on Accreditation. The recommendation follows allegations of a pervasive culture of antisemitism within psychology programs and professional settings. Critics also argue that parts of organized psychology have shifted from scientific focus to political activism, as seen in APA Division 39's recent conference emphasizing radical politics over therapy.

HT World··New York

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BusinessPhoto: Mint Markets

PC Jeweller Shares Rise 5% After 40% Rally in Two Weeks

PC Jeweller shares increased nearly 5% on Wednesday, continuing a strong rally fueled by robust Q2 FY27 revenue growth, debt repayment, and investor interest after a bulk deal. Analysts caution the stock is overbought, with support near ₹17 and resistance between ₹19 and ₹20.

Mint Markets·

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