Jio Platforms Sets India's Largest IPO at Over Thirty Thousand Crores

Meta Platforms and Google could hold nearly one lakh crore rupees in combined paper gains from their investments in Jio Platforms as the digital services company prepares to launch the country's largest-ever initial public offering next week. Meta Platforms owns a ten percent stake through Jaadhu Holdings LLC, while Google International LLC holds a seven point seven three percent stake. Neither existing shareholder is selling shares through the public offering. At the upper end of the price band of one thousand one hundred nineteen rupees per share, the two technology giants could see returns of approximately one29 percent on investments made in 2020. The issue size is thirty thousand two hundred thirteen crore rupees and consists entirely of a fresh issue of up to twenty-seven crore equity shares with no offer-for-sale component.

Timeline And Bidding

The public offering will open for subscription on Wednesday, October 21, and close on Friday, October 23, 2026. Anchor investor bidding is scheduled for Monday, October 19. The price band is set between one thousand sixty-five rupees and one thousand one hundred nineteen rupees per equity share. The minimum bid lot is twelve equity shares with a face value of ten rupees, and bids must be made in multiples of twelve shares.

Use Of Funds

Company proceeds from the fresh issue will go directly to the business rather than exiting shareholders. The funds are earmarked primarily to repay or prepay certain outstanding borrowings of its subsidiary, Reliance Jio Infocomm Limited, alongside general corporate purposes. Reliance Industries Group will become India's largest conglomerate by combined market capitalization of its listed companies after the market debut, according to Kotak Mahindra Bank founder Uday Kotak. Groww noted that the last IPO of this scale to be entirely a fresh issue was Reliance Power in 2008.

Context

Large initial public offerings allow private companies to raise massive amounts of capital from public markets while giving everyday investors a chance to buy shares. Fresh issues bring new money directly into a company to fund growth or clear debts, unlike sales where early backers cash out their own holdings.