Market Chatter: Jio Platforms Targets November India IPO, to Begin Roadshow Next Week

MT Newswires09-08 10:10

Jio Platforms plans to begin investor outreach across major financial hubs as early as next week for a potential $4 billion IPO in India, Bloomberg News reported Tuesday, citing people familiar with the matter.

The digital and telecom arm of Reliance Industries (BOM:500325, NSE:RELIANCE) is targeting a November debut and plans to offer up to 270 million new shares. A portion of the proceeds will be used for debt payments, according to the report.

Jio is set to hold meetings with investors in the U.S., Singapore, Hong Kong, London and the Middle East. Details of the IPO, including size, valuation and timing, may change, the report said.

Jio Platforms did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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