Jio Platforms plans a $3 billion share sale in India
The offer would sell roughly 3% of India’s largest telecom operator, with reported demand far exceeding the shares available ahead of a flotation planned for this week.
Loading… Բեռնվում է…
The offer would sell roughly 3% of India’s largest telecom operator, with reported demand far exceeding the shares available ahead of a flotation planned for this week.
Jio Platforms plans to sell roughly 3% of the company in an initial public offering—a sale of shares to public investors—aiming to raise about $3 billion at a valuation just above $100 billion, The Register said on October 26.
The company is India’s largest telecom operator, with more than 500 million customers gained since its 2015 launch. Low-priced subscriptions, its own-brand handsets and packages combining service with content helped it build that customer base.
The Register put subscription interest at 22 times the shares available overall and 70 times among institutional investors. These figures measure demand for the offering, not completed share allocations.
| Investor group | Demand |
|---|---|
| All investors | 22 times the shares offered |
| Institutional investors | 70 times the shares offered |
The $3 billion remains a fundraising target, rather than money already raised. Subscription interest also does not establish how the shares will perform once trading begins. The flotation is planned for the week of October 26.
The satellite operator expects access to more than twice OneWeb’s current bandwidth in return for spending in 2027–2034, with initial IRIS² services expected from 2030.
3 min
Microsoft reported $33.17 billion in Azure revenue and a 22% year-over-year decline in Windows OEM and devices revenue. Its reporting overhaul brings quarterly disclosure of Azure’s dollar contribution.
2 min
The US wireless carrier’s third-quarter service revenue rose 6% to $19.4 billion as it raised its expectations for the full year.
1 min