Reliance Industries Shares Rise Ahead of Jio Platforms IPO
· Business · Economic Times, LiveMint
Reliance Industries shares closed 3% higher at Rs 1,219 on the BSE on Thursday as the market debut of Jio Platforms approaches. The telecom and digital services unit is scheduled to launch its IPO on October 21, with a reported valuation of Rs 11 lakh crore. Jefferies has upgraded its stance on Reliance Industries to overweight, citing attractive valuations and potential for margin improvements. The company is expected to file its red herring prospectus after October 12, with the public issue closing on October 23.
Why it matters
The upcoming IPO is set to be a major market event, potentially making Jio Platforms India's third most valuable publicly traded company.
Read the original report — Economic Times
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