Jio Platforms plans to go public on October 21

Jio Platforms plans to launch its public share offering on October 21. The company expects to raise around $3.8 billion from the sale of shares. If the offering is completed at this volume, it will be the largest IPO in India's history.

Trading of Jio's shares on the exchange is expected to begin on October 28. The current record belongs to Hyundai Motor India, which raised $2.9 billion when it went public in 2024.

Most of the proceeds will be used to reduce debt in Jio's telecommunications business. Jio Platforms owns India's largest mobile operator.

The company is also working on artificial intelligence, cloud technologies and network services for businesses. Its foreign investors include Meta and Google.

The number of companies preparing to go public in India is growing rapidly. Nearly 250 companies are gearing up for IPOs, and the total volume of their planned offerings could reach $48 billion.

Source: Reuters