Markets
Reliance’s Jio targets India’s largest IPO with a valuation above $100 billion
Jio Platforms has set a price band of ₹1,065 to ₹1,119 per share for an offering of up to 270 million new shares, potentially raising about $3.2 billion and valuing the company at roughly $108.3 billion. Subscription is scheduled for October 21 to 23. The listing would test public-market appetite for a telecom and digital-services group that has more than 524 million subscribers, while most proceeds are earmarked to repay debt at its telecom subsidiary.
Editorial summary · Publisher article
What matters
- Jio’s proposed valuation is more than double the 2020 valuation cited in the report, when Meta and Google invested. Evidence: p1
- The company reported quarterly revenue of ₹391.7 billion and net profit of ₹77.6 billion, up nearly 12% and 9% year over year respectively. Evidence: p2
- Up to ₹275 billion of IPO proceeds would repay debt at Reliance Jio Infocomm. Evidence: p2
- The offering would surpass Hyundai Motor India’s 2024 deal as India’s largest IPO if priced within the proposed range. Evidence: p1
Context & caveats
- The final amount raised and valuation depend on the eventual offer price and investor demand; the listing has not yet occurred.
Why this made the edition
Admit for concrete IPO terms, valuation, subscriber scale, operating results and use of proceeds in a major Indian public-market listing.
Source material