Jio Platforms attracts more than $20B in bids ahead of record India IPO
Jio Platforms has drawn more than $20B in bids for what would be India’s largest listing, with Fidelity, Allianz and Capital Group indicating interest. The company is now seeking about $108B, against the $170B bankers discussed last November.
Jio Platforms has drawn more than $20B in bids for what would be India’s largest listing. The share sale is expected to open next week, with the listing completed before 30 October.
Fidelity, Allianz and Capital Group have indicated interest, Bloomberg reported, with the final anchor list due within days. Allianz is German, and Akash Ambani’s roadshow ran through London as well as Hong Kong and New York.
The price has come down a long way. When Jio filed in June, analysts put the company between $131B and $180B.
It is now seeking as much as 10.3 trillion rupees, about $108B. Bankers were discussing a figure as high as $170B...
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