Crypto traders price India telecoms company Reliance Jio's IPO at about $110 billion — SkimNews
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- Bitget traded the JIOUSDT perpetual near $12 on Thursday, implying a roughly $110 billion Jio valuation—3.8% above the IPO’s approximately $106 billion upper-band valuation.
- Jio set a maximum bid price of 1,119 rupees ($11.79) per share and expects about 9.21 billion shares after the sale, putting its maximum valuation at 10.3 trillion rupees ($106 billion).
- Jio began a three-day subscription seeking about 302 billion rupees, making the offering India’s largest IPO and surpassing Hyundai Motor India’s 279 billion-rupee share sale in 2024.
- JIOUSDT debuted Oct. 14 and traded between $11.48 and $12.24, generating volume of about 369,000 JIO, or $4.4 million, as an instrument for price discovery before Jio’s listing.
- JIOUSDT gives holders leveraged price exposure through USDT collateral but provides no shares, voting rights or dividends.
- Bitget said it bases the contract on public IPO information and will convert it into a standard perpetual after listing, while a delay, repricing or cancellation could drive sharp price moves.
- SpaceX had synthetic pre-IPO futures on Hyperliquid and Binance trade near a $2.2 trillion valuation, while its official IPO valuation was $1.8 trillion—almost 20% lower.
Why it matters: For traders, the $12 JIOUSDT contract offers leveraged exposure to a 302 billion-rupee IPO, but no ownership. Its $4.4 million volume and the SpaceX analogue’s nearly 20% valuation gap underline that the synthetic price is a market bet, not Jio’s official IPO valuation.
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