Jio IPO Set to Make Market History

Reliance Industries’ telecom and digital services arm, Jio Platforms Ltd. (JPL), is reportedly planning to offer its shares at a price band of ₹1,065–₹1,119 in its initial public offering (IPO), expected to open later this month. According to a Bloomberg report, the company could raise ₹30,213 crore at the upper end of the price band, potentially making it the largest IPO in India’s history.

The IPO could value Jio Platforms at around ₹10.3 lakh crore, making it the country’s third-most valuable listed company, after its parent, Reliance Industries, and telecom rival Bharti Airtel. At the close of trading on Friday, Reliance Industries had a market capitalisation of ₹15.84 lakh crore, while Airtel’s market value stood at ₹11.27 lakh crore, according to the report.

Jio’s IPO is reportedly scheduled to open on the 21st of this month and close on the 23rd, with the shares potentially listing on stock exchanges on the 28th. The company is said to be planning to issue only fresh equity shares as part of the offering. Existing shareholders are reportedly not planning to sell their holdings through an offer for sale (OFS).