Jio IPO: Nikhil Kamath bullish on Rs 30,213-crore issue, calls it 'bright spot in tough market'

Zerodha and True Beacon co-founder Nikhil Kamath expects Jio Platforms' initial public offering (IPO) to open well, citing strong investor demand that far exceeds supply. In an interview with CNBC-TV18, Kamath said the issue was emerging as a bright spot in a tough market. "If that is any kind of indication of how the IPO is going to turn out, I think the demand far outweighs the supply as it stands. So things are looking good. I think the IPO will open well," he said. Kamath said Jio Platforms had played a significant role in building India's internet ecosystem by providing the infrastructure that has helped internet companies grow. Rainmatter, Kamath's investment platform, participated in the IPO's anchor book. He said the platform had sought an exposure of Rs 500 crore but received an allocation of Rs 25 crore. "We were trying to get Rs 500 crore of exposure, and we have gotten Rs 25 crore," he told CNBC-TV18. Kamath also sees potential for Jio's internet infrastructure business to benefit from wider adoption of artificial intelligence (AI). Increased AI usage could drive demand for data and internet infrastructure, while also supporting growth in average revenue per user (ARPU), he said. He said India's startup ecosystem had benefited from affordable internet access and public digital infrastructure, including the Unified Payments Interface (UPI) and Aadhaar. "I think a lot of us owe some part of our success to internet being cheap in India, and Jio has played a significant part in making that happen," Kamath said.

Jio IPO: Nikhil Kamath bullish on Rs 30,213-crore issue, calls it 'bright spot in tough market'

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