Jio Platforms' Rs 10.3 Lakh Crore IPO to Wipe Out Rs 27,500 Crore Debt
BAC sits 18% above its 52-week low of $46.115.
Summary
Jio Platforms, India's largest telecom operator, has priced its IPO at Rs 1,119 per share, valuing the company at Rs 10.3 lakh crore — the first Indian IPO ever above Rs 10 lakh crore. The company will use Rs 27,500 crore of the proceeds to prepay dollar and yen loans from 16 global banks, including Bank of America, leaving it nearly net-debt-free. Free cash flow has surged 29-fold in two years to Rs 42,071 crore in FY26, driven by a completed 5G buildout and falling capex. The IPO opens on 21 October. For Bank of America, this is a positive development as it is one of the lenders whose loans will be repaid early, removing foreign-currency exposure risk.
At the time of this announcement, BAC was trading at $54.25 on NYSE in the Finance sector, with a market capitalization of approximately $381.7B. The 52-week trading range was $46.12 to $65.23. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Businessworld.