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Jio Platforms IPO Price Band Set
Jio Platforms targets ₹10.3 lakh crore valuation for India's largest IPO, pricing shares at ₹1,065-1,119.
In brief
Jio Platforms targets ₹10.3 lakh crore valuation for India's largest IPO, pricing shares at ₹1,065-1,119. Jio Platforms plans to list at ₹1,065-1,119 per share for an IPO raising ₹30,200 crore, aiming to become India's largest IPO before Diwali. Originally reported by mint.
IPO Price Band
Jio Platforms plans to price shares at ₹1,065-1,119 for an IPO raising ₹30,200 crore.
“Jio Platforms Ltd. is set to price its shares at ₹ 1,065-1,119 in what's shaping up to be India's largest initial public offering (IPO)”
Valuation Target
The company aims for an implied valuation of ₹10.3 lakh crore, smaller than earlier expectations.
“Jio Platforms is seeking to raise up ₹ 30,200 crore in its IPO for an implied valuation of ₹ 10.3 lakh crore”
Listing Timeline
Public subscription opens 21 October with trading expected on 28 October before Diwali.
“The company is targeting a market value of as much as ₹ 10.3 lakh crore, the people said, asking not to be identified because the information isn’t yet public”
Market Context
The IPO could surpass Hyundai Motor India's ₹27,800-crore share sale from October 2024.
“The valuation falls short of some earlier expectations, though the offering is still poised to surpass hyundai motor india ltd.'s ₹ 27,800-crore share sale in October 2024”
Valuation History
Earlier valuations ranged from $130 billion to $170 billion, now down to ₹10.3 lakh crore.
“Valuations floated earlier were even higher, in the range of $130 billion to $170 billion at one point”
Reliance Discount
Reliance shares reflect a 36% discount on its stake in Jio Platforms compared to market standards.
“Reliance’s share price implies a roughly 36% discount on its two-thirds stake in Jio, according to Nimish Maheshwari”
Listing Impact
Jio's IPO could become India's largest, with investors gaining direct access to the telecom unit.
“Such discounts are common for parent companies because their shareholders only get indirect exposure to the businesses they own”
The big picture
Jio Platforms plans to list at ₹1,065-1,119 per share for an IPO raising ₹30,200 crore, aiming to become India's largest IPO before Diwali.
