SBI Securities Offers Leveraged Financing for Jio Platforms IPO

SBI Securities is offering a leveraged financing option for investors applying for the initial public offering of Jio Platforms Ltd. In a rare move for the Indian market, the brokerage is providing funding for up to 60% of the application amount through its parent company, State Bank of India.

Eligible investors can seek funding for applications ranging between 500,000 and 1 million rupees, using the allotted shares as collateral. This initiative comes as anticipation for the Jio Platforms Ltd. debut increases, sparking intense competition among Indian brokerages.

Several other firms are reportedly approaching clients with similar financing options to attract investors ahead of the offering.