Cryptoupdated 1h ago2 min read
Crypto Traders Price Reliance Jio Platforms IPO At About $110 Billion Via Bitget Contract
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Crypto traders valued Jio Platforms at about $110 billion via Bitget. Bitget JIOUSDT perpetual contract traded near $12, about 4% premium.
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Crypto prices Jio IPO
Crypto traders priced Reliance Industries telecom arm Jio Platforms at about $110 billion through a Bitget perpetual contract, with the JIOUSDT contract trading near $12 as India’s official three-day public subscription remained open for subscription.
Bitget’s JIOUSDT contract debuted Oct. 14 and generated about $4.4 million in volume, while the contract provided leveraged price exposure without shares, voting rights or dividends.
The Bitget contract traded between $11.48 and $12.24 since Oct. 14, and it was tied to a Jio IPO that sought to raise about 302 billion rupees and set a maximum bid price of 1,119 rupees ($11.79) per share.
The contract’s price could swing sharply if the IPO was delayed, repriced or canceled, and Bitget said it would convert the contract into a standard perpetual once the shares list.
IPO terms and timing
Jio Platforms set a price range of ₹1,065 to ₹1,119 a share, and Reliance Industries said it was offering up to 270m new shares as the IPO targeted a 10.3tn rupees valuation when it floats. The IPO was set to close on Friday, with shares offered to retail investors on Wednesday and trading expected to begin on the Bombay Stock Exchange next week, likely on October 28.
The Economic Times said the Jio IPO would remain open for subscription until Friday, October 23, 2026, with the basis of allotment expected to be finalised on Monday, October 26 and shares tentatively expected by Tuesday, October 27. The Guardian said Jio secured 212 anchor investors on Monday, and it said the family-owned conglomerate encouraged its 400,000-plus employees to buy shares, offering them a discount of 54 rupees a share.
What investors watch next
Analysts said Jio’s listing could narrow the holding company discount applied to Reliance Industries Ltd, but Managing Director Navy Vijay Ramavat of Indira Securities said, "I would not expect the discount to disappear." Red Lions Capital’s Saikat Kumar said, "Jio's listing could unlock value for Reliance Industries by establishing an independent market valuation for its digital business," and he tied the discount narrowing to IPO valuation, stake dilution and capital allocation.
“In Jio's case, the listing should make its value within Reliance Industries easier to assess, but I would not expect the discount to disappear.”
The Economic Times said Kranthi Bathini of WealthMills Securities advised investors to consider applying on Day 2 rather than waiting until the final day, citing the strong response to the offering. The Guardian said Isha Ambani told investors last week that the business idea was spawned by the poor connectivity she and her brother Akash faced when they returned to India in about 2009-10, and she said, "Akash firmly believed that the answer and solution to this was creating a digital technology platform company."