Jio prices IPO at $107B, below earlier expectations

Jio Platforms priced its IPO at about $107 billion (Rs 10.3 lakh crore), down from earlier talk of $133–154 billion. The deal is a pure fresh issue of 27 crore shares with no selling shareholders; subscription reached 5.23x by the end of day two.

• IPO valuation is $107B versus earlier $133–154B
• 27 crore new shares issued, no existing shareholders selling
• Subscription at 5.23x by day two, retail only 1.49x
• Employees get a Rs 54 per-share discount