Markets India

Jio Platforms, Reliance Industries' digital and telecom arm, will launch a Rs 30,000 crore IPO on October 21, potentially setting a new benchmark for India’s capital markets by surpassing Hyundai Motor India’s previous record. The offering includes shares priced between Rs 1,065-1,119 per share.

Jio Platforms Launches Rs 30,000 Crore IPO as India's Largest Public Offering

Jio Platforms’ IPO, which could become India’s largest public issue, involves a fresh issue of up to 27 crore equity shares. The offering is priced at Rs 1,065-1,119 per share, with a target valuation of Rs 10.3 lakh crore ($106 billion), exceeding Hyundai Motor India’s Rs 27,856 crore IPO. Revenue from operations rose 14.6% to Rs 1,46,885.3 crore in FY26, while profit after tax (PAT) grew 15.1% to Rs 30,049.1 crore. The company’s customer base expanded 7.4% to 524.4 million in FY26. Anchor investors, including Meta, Google, and Saudi Arabia’s Public Investment Fund, have already committed over $20 billion in bids. The IPO’s focus on debt repayment for Reliance Jio Infocomm Ltd underscores Jio’s financial restructuring priorities, while the listing could bolster its capital for expanding cloud, AI, and enterprise technology services. The grey market premium suggests a listing price of Rs 1,337 based on the upper price band.

The basis of allotment is expected on October 26, with shares tentatively listed on October 28. The IPO subscription period runs from October 21 to October 23, with anchor investor bidding on October 19.

Jio Platforms’ Rs 30,000 crore IPO could redefine India’s capital markets, but its valuation and market reception remain key uncertainties. The offering’s success will depend on investor confidence in Jio’s digital ecosystem and its ability to sustain growth.

Topics: India, IPO, Reliance Industries, Jio Platforms, Capital Markets, Digital Ecosystem, Telecommunications, AI, Cloud Computing

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Source: ET Markets