Jio Platforms plans to raise up to 302 billion rupees in India’s biggest-ever IPO by rupee value, with shares priced at 1,065-1,119 rupees and the sale due from 21 to 23 October.
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01Summary
- 01Jio Platforms is seeking up to 302 billion rupees, or $3.2 billion, in an initial public offering.
- 02The company will sell 270 million shares at a price range of 1,065 rupees to 1,119 rupees each from 21 to 23 October.
- 03Reliance Industries said the IPO will be India’s largest ever in rupee terms and the second largest in dollar terms, behind Hyundai Motor’s $3.3 billion float in 2024.
- 04At the top end of the range, Jio Platforms would be valued at around $108 billion, below earlier expectations and below Bharti Airtel’s $117.5 billion market value.
- 05Meta affiliate Jaadhu Holdings owns nearly 10% of Jio Platforms and Google International owns 7.7%, and neither plans to sell shares in the offering.
02Why it matters
The float is a major test of investor demand for one of India’s biggest telecom groups and a key deal for the country’s stock market. Its size and valuation will also shape expectations for future large Indian listings.
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