Crypto Traders Value Reliance Jio at $110 Billion Ahead of IPO

Crypto traders valued Jio Platforms at about $110 billion through a Bitget perpetual contract, which represents a 3.8% premium to the roughly $106 billion valuation implied by the IPO’s upper price band. The JIOUSDT contract debuted on Oct. 14 and has generated about $4.4 million in volume, offering price discovery before Jio’s shares begin public trading. Jio Platforms, the telecom and digital business of Reliance Industries, is undertaking the largest IPO in India’s history, seeking to raise about 302 billion rupees.