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Reliance Jio IPO: Likely Price Band for India's Biggest Listing Revealed. Check Details
The offer is a fresh issue of up to 27 crore shares, with proceeds aimed at debt repayment and general corporate purposes.
- On Wednesday, Reliance Industries announced an IPO price band of ₹1,065 to ₹1,119 per share for Jio Platforms, valuing the company at $108 billion. Public subscription opens October 21 for up to 270 million new shares.
- The company plans to use up to ₹275 billion from IPO proceeds to prepay debt at its telecom subsidiary, Reliance Jio Infocomm, with remaining funds allocated toward general corporate purposes.
- Global tech majors Meta and Google, holding nearly 10% and 8% stakes respectively, are not exiting via the IPO; the issue reserves up to ₹500 crore for employees and ₹2,500 crore for Reliance Industries shareholders.
- Jio's $108 billion valuation sits below Bharti Airtel's market capitalization of over $117 billion, as analysts note investor pushback regarding the company's positioning as a tech business rather than utility provider.
- Planned investments in a 1,650-satellite constellation for broadband expansion intensify rivalry with Elon Musk; shares are expected to list on October 28 after the subscription window closes October 23.
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64 Articles
Jio IPO News Live: Jio Platforms' IPO is gaining traction among stock market investors. The company has set a price ceiling of ₹1,119 per share for this ₹30,213 crore IPO. Investors must bid for a minimum of 12 shares, or ₹13,428 per lot.
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Total News Sources64
Leaning Left3Leaning Right10Center7Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
15%
C 35%
R 50%
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