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The IPO is expected to remain open until October 23, with the anchor book likely to open on October 19. The shares are targeted to list on the stock exchanges on October 28, although the timeline remains subject to market conditions and could change depending on developments in financial markets, the report added. The company has received encouraging feedback from foreign institutional investors (FIIs) and domestic investors during recent meetings, PTI reported. Jio Platforms has also wrapped up worldwide roadshows and is giving final touches to its public offer documents, according to a source aware of the development. The roadshows were led by Jio Platforms Managing Director and Reliance Jio Chairman Akash Ambani and Reliance Retail Ventures Limited Executive Director Isha Ambani. The proposed IPO is being touted as India's largest, with the issue estimated at $3.8 billion. Jio Platforms filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in June, and the market regulator issued its final observations on August 28, allowing the company to move ahead with the offering. Last month, Sebi's approval cleared the way for what is expected to be the country's largest stock-market listing. The issue will consist entirely of fresh shares, which means the money raised will go to the company rather than existing shareholders selling their holdings. A significant portion of the proceeds is expected to be used to reduce debt. Jio Platforms plans to use the funds primarily to repay or prepay, either fully or partly, around Rs 27,500 crore of outstanding borrowings of Reliance Jio Infocomm, its telecom subsidiary. The balance will be used for general corporate purposes. Jio Platforms houses Reliance's digital businesses, including its telecommunications operations. Reliance Jio Infocomm, the telecom arm of Jio Platforms, has a 32.89 per cent share of the fixed-line connections market, serving 157.9 million customers. It also has a 39.29 per cent share of the mobile connections market, with 506 million customers. Disclaimer: This article has been written by Veer Sharma, who is not a SEBI-registered Research Analyst or an Investment Adviser. Veer Sharma and his ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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