Funding
Crypto Traders Price Jio Platforms IPO at $110 Billion
Crypto traders are already pricing the largest IPO in India's history, Jio Platforms, at about $110 billion. The JIOUSDT perpetual contract on Bitget is trading near $12, a roughly 4% premium on the top price band. The company, a telecom and digital business of Reliance Industries, is expected to have about 9.21 billion shares outstanding after the sale, valuing it at most around 10.3 trillion rupees ($106 billion). The pre-IPO contract shows how price discovery for big IPOs is starting to take place on crypto platforms, even before the first share trades.