Jio Platforms to launch India's biggest IPO, targeting ₹30,213 cr
Jio Platforms Ltd will open its IPO on October 21, aiming to raise ₹30,213 crore and value the company at about ₹10.3 trillion, which would make it India’s largest offering.
Jio Platforms Ltd, the digital arm of Reliance Industries that runs Reliance Jio, announced an IPO slated for October 21-23 with a price band of ₹1,065-₹1,119 per share. The fresh issue of up to 270 million shares seeks to raise ₹30,213 crore, valuing the firm at roughly ₹10.3 trillion and potentially overtaking Hyundai Motor India’s record. The company reserved ₹500 crore for employee investors, offering them a ₹54 per-share discount, and ₹2,500 crore for other eligible shareholders such as individuals and HUFs.
Existing backers like Meta, Google, KKR, Silver Lake and General Atlantic will not sell any holdings. About ₹27,500 crore of the proceeds will be used to pre-pay debt of a material subsidiary, with the remainder funding Jio’s plans for a low-earth-orbit satellite constellation and AI-native network services. Lead bookrunners Morgan Stanley and Kotak Mahindra Capital are handling the transaction, which follows a decade of rapid growth since Jio’s 2016 launch.
Why it matters
The IPO could set a new benchmark for Indian capital markets and finance Jio's next-phase tech expansion.
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