Crypto traders are pricing Reliance Jio at about $110 billion
Summary
Crypto traders are using Bitget’s JIOUSDT perpetual contract to bet on the valuation of Jio Platforms as its IPO subscription opens. The contract traded near $12, close to the maximum offer price of 1,119 rupees per share, implying a valuation of about $106 billion. It has recorded roughly $4.4 million in volume since launching on Oct. 14. The IPO seeks to raise 302 billion rupees, making it India’s largest. Such pre-IPO contracts offer leveraged price exposure, not shares or shareholder rights, and can misprice the eventual listing; similar SpaceX contracts previously implied a valuation nearly 20% above its IPO value.
