BNP Paribas and Morgan Stanley Appointed for Jio Share Sale
- Reports
- 7
- Developments
- 1
- Repetition
- 86%
New informationRepeats or wire copies
What happened
BNP Paribas and Morgan Stanley were appointed to handle a share sale for Jio, the telecom and digital services arm of Reliance Industries Ltd. Jio is reportedly gauging demand and is expected to begin meetings with potential investors this week to discuss valuation and pricing. The company is looking to open its Initial Public Offering the week of October 19 and list before October 30.
From indiatimes.com
Why it matters
The offering could position Jio as India’s third most valuable publicly traded company. Current valuations cited by analysts range from $110 billion to $118 billion. The IPO adds to a busy year for India’s market, where listing proceeds surpassed $9 billion in the July-September quarter.
From indiatimes.com
Who's involved
- JioThe telecommunications network undergoing the share sale and IPO.
- BNP ParibasFrench bank appointed to handle the share sale process for Jio.
- Morgan StanleyU.S. investment bank appointed to provide investment banking and valuation services for Jio.
- Reliance Industries LimitedThe parent company of Jio, Reliance Industries Limited.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Reliance Industries LimitedSpeculative
Reliance Industries Limited might see an increase in its overall valuation and financial health following Jio's capital raise.
- Morgan StanleySpeculative
Morgan Stanley could gain immediate fee revenue and business growth by securing the mandate for this major IPO.
- JioSpeculative
Jio might benefit from strong market confidence and increased capital raising capabilities facilitated by the top banks' appointment.
Keep exploring
The entities involved
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Jio
telecommunications network in India
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BNP Paribas
French bank and financial services company
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Morgan Stanley
U.S. investment bank
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- Major telecom operators Jio, Bharti Airtel, and Vodafone Idea are fiercely competing for market share under the monitoring of the Telecom Regulatory Authority of India.
- Kaiko secured funding and support from major financial institutions like BNP Paribas, RBC, S&P Global, and Bpifrance to expand its digital asset services.
- SBI is sanctioning its share of the loan package for Vodafone Idea, which is seeking to remain competitive against Jio and Bharti Airtel.