Jio Platforms to open $3.2 billion IPO on October 21
Jio Platforms, Reliance's telecom and digital arm, opens a roughly $3.2 billion IPO on October 21 with a price band of Rs 1,065 to 1,119 per share.
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what happened
Jio Platforms, the telecom and digital unit of Reliance Industries headed by Akash Ambani, will open its initial public offering on October 21 and aims to raise roughly $3.2 billion, TradingView reports, citing Mint.
The price band is Rs 1,065 to 1,119 per share. At the top end the company would be valued at about $108 billion, slightly below Bharti Airtel's market value of around $125 billion. The offer consists only of fresh shares, with no sales by existing holders.
The issue is about 14% smaller than the roughly Rs 35,000 crore outlined in the draft papers. If it closes at the planned size, it could surpass Hyundai Motor India's Rs 27,870 crore IPO from 2024 as India's largest public offering by value.
why it matters
Reliance shares are down about 23% this year amid a broader sell-off in Indian equities, so the deal will test whether the Reliance name still draws buyers. Reported bids above $20 billion and interest from Fidelity, Allianz and Capital Group point to strong demand. A grey market premium of Rs 221 implies a listing gain near 19.75%, but that figure is unofficial and does not guarantee the actual listing price. Investors will also compare Jio's valuation with listed telecom peers, which may set the tone for the sector.
market impact
Indian equities and telecom: a large new share supply may weigh on sector valuations and liquidity
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prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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