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Jio Platforms targets up to 302 billion rupees in India IPO
Jio Platforms is aiming to raise as much as 302 billion rupees through what may be India’s largest initial public offering, even as stock markets struggle. The telecom firm headquartered in Mumbai is targeting a valuation of 10.3 trillion rupees when its shares are offered to investors on Wednesday. It has set a share price range of 1,065 to 1,119 rupees and plans to offer up to 270 million new shares. The offering is set to close on Friday. On Monday, Jio secured 212 anchor investors, among them BlackRock, Fidelity Investments and Singapore's sovereign wealth fund.
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