Jio leverage play pops up at SBI as India brokers lure IPO bets

SBI Securities has launched a financing option for investors subscribing to the upcoming IPO of Jio Platforms Ltd. Under the scheme, investors can secure funding of up to 60% of their subscription amount.

The IPO is scheduled to open for bids on October 21. Strong demand already seen ahead of the issue has signalled growing investor interest in the offering.

Several brokerages are reportedly using the opportunity to attract new clients. Market observers expect the listing could bring a wave of first-time investors into the stock market.