Crypto traders are already betting on the largest IPO in India’s history, pricing Indian telecoms giant Reliance Jio at about $110 billion as its official three-day public subscription gets underway.
(Credits: Jakub Zerdzicki / Unsplash)
How Crypto Traders Priced Jio at $110 Billion
The JIOUSDT perpetual contract on the Bitget exchange traded near $12 on Thursday — a roughly 4% premium on the top price band. The contract, which debuted October 14, has generated about $4.4 million in volume, offering price discovery before Jio’s shares begin trading publicly.
For comparison, Jio set a maximum bid price of 1,119 rupees ($11.79) per share. The company is expected to have about 9.21 billion shares outstanding after the sale, valuing it at around 10.3 trillion rupees ($106 billion) at the top of the band.
What Jio’s IPO Means
Jio Platforms is the telecom and digital business of Reliance Industries, one of India’s biggest conglomerates. Its Jio network started up in 2016 and a decade later is one of the country’s defining digital stories.
CoinDesk notes the contract provides leveraged price exposure but no shares, voting rights, or dividends — and it could swing sharply if the IPO is delayed, repriced, or canceled. This article reports market data only; it is not investment advice.
Also Read: China Moves to Seize 61,800 Bitcoin Tied to $5.7 Billion Fraud Scheme
Source: CoinDesk — read the full story there.
