Jio Platforms is preparing for what could become India’s largest IPO, with the issue expected to be launched around October 21, according to reports. The proposed offering is estimated at approximately Rs.37,700 crore, or around $4 billion.
The company is expected to file its red herring prospectus after October 12, with the objective of completing the IPO and listing process before the end of October. A significant portion of the proceeds is expected to be used for prepayment of borrowings, along with general corporate purposes.
If completed at the reported size, the offering would become a major event for India’s primary market and could significantly increase total IPO fundraising during October.
