Jio Platforms IPO: Record ₹30,000 Cr Issue, ₹1,065-1,119 Price Band & Oct 21 Launch
Reliance Industries' telecom and digital arm, Jio Platforms, is gearing up for India's largest initial public offering, with an estimated issue size exceeding thirty thousand crore rupees. The IPO price band has been fixed between one thousand sixty-five rupees and one thousand one hundred and nineteen rupees per share, valuing the company at ten point three lakh crore rupees at the upper end. The issue opens for subscription on the twenty-first of October and closes after three days, with listing expected on the twenty-eighth of October. Unlike recent offerings from Hyundai Motor, NSE, and LIC, Jio's issue consists entirely of fresh equity shares with no offer for sale. Jio currently serves fifty-three crore users, processes twenty billion minutes of daily voice traffic, carries over sixty percent of India's data traffic, and operates the world's largest 5G subscriber base outside China. Ahead of the anchor investor bidding round, reports indicate early bids exceeding twenty billion dollars from international investors.