Jio IPO: Mukesh Ambani’s Telecom Giant Eyes Rs 11 Lakh Crore Valuation
Jio Platforms is reportedly targeting a valuation of around Rs 11 lakh crore for its upcoming IPO, which could become India’s biggest public issue by funds raised if the current plans hold.
Jio Platforms, the telecom and digital services arm of Reliance Industries, is reportedly seeking a valuation of around Rs 11 lakh crore, or about $114 billion, for its planned initial public offering. The company is expected to begin meeting potential investors this week, with the final valuation and pricing still subject to change.
Jio is looking to launch the IPO in the week of October 19 and complete its stock-market debut before October 30, according to the report. The company had earlier filed its draft prospectus for an issue of up to 270 million new shares, representing roughly 2.93% of its post-issue equity.
At the proposed valuation, Jio could rank among India’s most valuable listed companies, with its market value approaching that of Bharti Airtel. The planned share sale could also raise around $3.4 billion, potentially surpassing Hyundai Motor India’s $2.9 billion IPO in 2024.
Jio’s valuation target is lower than earlier estimates of $130 billion to $170 billion, reflecting more cautious market conditions. The company has appointed 19 banks for the offering.
Grey-market data showed a premium of Rs 156 on October 6, but GMP remains an unofficial indicator and does not guarantee the actual listing price.
If the numbers hold, Jio could be heading for a record-setting market debut—though IPO plans, as investors know, are rarely allergic to last-minute changes.
