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Reliance Jio IPO
Finance · 7 updates
Jio IPO GMP already sees 'Ambani premium'
Grey market trading in Reliance Jio Platforms has picked up days before the likely launch of India’s biggest IPO, with unofficial prices quoting around Rs 170-180 per share higher than the reported price band, according to analysts tracking the shadow market. According to traders, the premium implies a gain of about 15-16% over the likely upper end. The official price band has not yet been announced, and the red herring prospectus is likely to be filed this week.Reuters reported that Jio Platforms is likely to price its shares at Rs 1,065-1,119 apiece, valuing the company at about Rs 10.3 lakh
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IPO-bound Reliance Jio is looking to go beyond data connectivity by partnering with technology companies to create new markets, rather than simply distribute their products, Akash Ambani said on Thursday, citing the telecom operator’s collaboration with Google on its artificial intelligence service Gemini.“This is not a simple distribution deal,” Ambani said at Jio’s IPO press conference, explaining how the partnership had helped create a market for Google’s flagship AI product in India.Google already has a significant presence in India, with more than a billion users across each of its platfo
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