Jio Platforms is reportedly targeting a valuation of around ₹11 lakh crore ($114 billion) for its proposed initial public offering (IPO), in what could become India’s largest-ever stock market listing.
According to a Bloomberg report citing people familiar with the matter, the valuation target is lower than some earlier expectations. However, the IPO could still mark a major milestone for Reliance Industries’ telecom and digital services business.
Jio Platforms has already filed its draft prospectus and is planning to offer up to 27 crore new shares, representing around 2.93% of its post-issue equity capital.
The company has completed its initial demand assessment and is expected to begin meetings with potential investors to discuss the IPO’s valuation and pricing. The final issue price and valuation will depend on investor demand and market conditions.
The IPO could open in the week of October 19, with a potential stock market listing before October 30. However, these dates are not final and could change.
If completed at the reported valuation, the Jio Platforms IPO would rank among India’s biggest-ever public offerings. The listing would also give public-market investors direct exposure to one of Reliance Industries’ key businesses spanning telecommunications and digital services.
For investors, the final valuation, issue size, pricing and post-listing growth prospects will be important factors to watch as Jio moves closer to its public-market debut.
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