Jio Platforms plans record share sale with price band set up to Rs 1,119

Jio Platforms Limited is preparing for its initial public offering with a reported price band of Rs 1,065 to Rs 1,119 per share. The Mukesh Ambani-led telecom giant is aiming for a company valuation of up to Rs 10.3 trillion through the share sale. At the upper end of the price band, the public issue aims to raise about Rs 30,200 crore. If completed as planned, this share sale will surpass Hyundai Motor India Limited to become the largest-ever initial public offering in India.

Timeline and Details

The public subscription for the offering is scheduled to open on Wednesday, October 21, and close on Friday, October 23. The anchor book for institutional investors is set to open earlier on October 19. The company's shares are expected to make their stock market debut on Dalal Street on October 28. Managing Director Akash Ambani is leading the digital services firm through this listing process. The telecom arm of Reliance Industries Ltd. previously filed its draft red herring prospectus in June, planning to offer 27 crore new shares, which equals roughly 2.93 percent of its post-issue equity capital. However, reports note that these timelines and financial details remain subject to change while discussions continue.

Context

Initial public offerings allow private companies to raise capital from public investors by selling shares on stock exchanges. Large offerings of this scale often draw significant interest from both retail and institutional investors in the Indian capital market.