Jio Platforms Files RHP for IPO Opening October 21 with 27 Crore Share Fresh Issue
BAC is trading near its 52-week low of $46.115 (11% above the low) on elevated volume (2.1× avg).
Summary
Jio Platforms, a Reliance Industries subsidiary, filed its Red Herring Prospectus on October 14, 2026, setting the IPO subscription window for October 21-23 with anchor bidding on October 19. The offering includes a fresh issue of up to 27 crore equity shares at Rs.10 face value, with reservations of Rs.500 crore for employees and Rs.2,500 crore for eligible Reliance shareholders. Bank of America and Citigroup are among the 19 banks managing the share sale, giving both U.S. lenders direct fee exposure to one of India's largest tech IPOs. The filing follows the DRHP submitted in June and SEBI's observation letter in August, marking the final regulatory step before pricing.
At the time of this announcement, BAC was trading at $51.08 on NYSE in the Finance sector, with a market capitalization of approximately $357.2B. The 52-week trading range was $46.12 to $65.23. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Mint.