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Reliance Jio IPO: Likely Price Band for India's Biggest Listing Revealed. Check Details
The offering could raise 302 billion rupees at the top of the range, with early institutional demand reported at more than $20 billion.
- On Wednesday, Reliance Industries announced Jio Platforms set an IPO price band of 1,065 rupees to 1,119 rupees per share, valuing the company at around $108 billion. Public subscription opens October 21 and closes October 23.
- Jio Platforms plans to use 275 billion rupees from proceeds to prepay debt at subsidiary Reliance Jio Infocomm. The $108 billion valuation reflects investor skepticism, falling from $133 billion previously expected.
- The issue reserves up to 2,500 crore rupees for eligible Reliance Industries shareholders and 500 crore rupees for employees. Global investors including Fidelity and Capital Group have indicated strong interest, with bids exceeding $20 billion.
- Reliance Industries shares rose 3.44% on Thursday following the pricing announcement. Amid ongoing rivalry, Elon Musk accused Mukesh Ambani of blocking Starlink's launch to maintain "monopolistic exploitation" of India's market.
- Jio's shares are expected to list on October 28, with remaining proceeds funding "gigawatt-scale green AI infrastructure" and a 1,650-satellite constellation. This positions the company as a tech-driven player in India's expanding digital ecosystem.
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64 Articles
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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