Jio Platforms sets record India IPO price for October launch
Reliance Industries' Jio Platforms will launch its initial public offering in India on October 21 with shares priced between 1,065 and 1,119 rupees.
Offering details and timeline
The company plans to offer up to 270 million new shares to the public. Bidding for anchor investors is scheduled to take place on Monday before the main window opens next Wednesday. The listing will close on Friday according to the latest filings.
Valuation and market context
At the upper end of the price band, the deal would raise about $3.2 billion. This valuation would reach 10.3 trillion rupees, or roughly $108.25 billion. The offering aims to surpass Hyundai Motor India's record set in 2024.
Company background and growth
Jio launched in 2016 and now holds a 60 percent share of India's data traffic. It currently serves more than 524 million subscribers across the country. Major foreign investors include Meta and Google who joined the company in 2020.
All 2 outlets report consistently
No differences in figures, names or dates across these reports.
- Business Recorder
- TechCrunch
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