Published • loading... • Updated
Reliance Jio IPO: Likely Price Band for India's Biggest Listing Revealed. Check Details
The fresh issue will raise up to Rs 30,213 crore, with proceeds mainly earmarked to repay debt at Reliance Jio Infocomm, the prospectus said.
- Jio Platforms Ltd set an IPO price band of ₹1,065–₹1,119 per share on Wednesday, valuing the company at about $108 billion. Public subscription opens October 21 and closes October 23, with anchor bidding scheduled for October 19.
- Parent company Reliance Industries Ltd, which holds a 66.43% stake, plans to use proceeds to prepay ₹275 billion in debt at subsidiary Reliance Jio Infocomm, with remaining funds allocated for general corporate purposes.
- Institutional investors have submitted more than $20 billion in bids, though some remain skeptical of the company's tech-focused valuation, arguing it functions more like a traditional utility provider than a technology business.
- Poised to be India's largest IPO, the listing is expected October 28, positioning the company at about $108 billion—below rival Bharti Airtel, which trades at a market capitalization of over $117 billion.
- Strategic investments in a 1,650-satellite constellation and "gigawatt-scale green AI infrastructure" underscore Jio's tech ambitions, intensifying rivalry with Elon Musk, who accused Mukesh Ambani of blocking Starlink to maintain what Musk called "monopolistic exploitation.
Insights by Ground AI
66 Articles
66 Articles
Jio IPO News Update: This interest from investors in Jio's IPO comes at a time when the company is preparing to list on the Indian stock market.
·India
Read Full Article
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.
Coverage Details
Total News Sources66
Leaning Left3Leaning Right11Center7Last UpdatedBias Distribution53% Right
Bias Distribution
- 53% of the sources lean Right
53% Right
14%
C 33%
R 53%
Factuality
To view factuality data please Upgrade to Premium
