Reliance Jio Sets Price Band and Dates for Massive Public Share Offer

Jio Platforms has fixed its share price band at Rs 1,065 to Rs 1,119 for its upcoming initial public offering. Through this share sale, the company aims to raise a total amount between Rs 28,755 crore and Rs 30,213 crore. Public bidding for the share offer will open on October 21. The shares are expected to make their stock market debut on October 28.

Share Details

The public offering will consist entirely of fresh equity shares. No existing shareholders will sell their holdings during this process. Reliance Industries will stay on as the promoter of the company after the listing process finishes.

Context

Initial public offerings allow private companies to raise large amounts of capital by selling shares to the public for the first time. Major telecom and technology firms often use these funds to expand their digital infrastructure and pay off debts. This particular share offering is set to be one of the biggest listings in the Indian stock market.