Jio Platforms, the digital and telecom arm of Reliance Industries, is preparing to launch its highly anticipated initial public offering after filing its Red Herring Prospectus. The public issue is expected to raise as much as Rs 30,213 crore at the upper end of the established price band.
The company has set the price band for the offering at Rs 1,065 to Rs 1,119 per share. Investors will be able to subscribe to the issue starting October 21, with the bidding window closing on October 23. Prior to the public opening, anchor investors will participate in bidding on October 19.
The upcoming public offering also features specific reservations designated for eligible employees as well as existing shareholders of Reliance Industries. Management teams have outlined these structure details and key announcements as the company moves forward with its market debut.