Jio Platforms sets IPO price band, could raise over ₹30,000 crore

Jio Platforms Ltd has fixed the price band for its upcoming IPO at ₹1,065 to ₹1,119 per equity share, a range that could raise about ₹30,213 crore and likely become the biggest public offering in India’s market history. The price band was approved by the company’s IPO Committee of the Board of Directors in a meeting held on Wednesday, October 14. At the upper end of ₹1,119 per share, the proceeds would surpass the previous record set by Hyundai Motor India’s 2024 IPO, which raised roughly ₹27,870 crore. Employees who qualify under the Employee Reservation Portion will receive a discount of ₹54 for each share they bid for. The minimum bid lot has been set at 12 equity shares, each with a face value of ₹10, and bids must be placed in multiples of this lot size. This structure aims to attract both institutional and retail investors when the issue opens next week. ## Context IPOs allow companies to raise capital from the public market, converting private ownership into publicly traded shares. Large‑scale offerings like Jio’s are closely watched because they can shift market sentiment and provide a benchmark for future listings.