Jio Platforms IPO to Propel Reliance as Top Business Conglomerate by Market Value, Evaluates Uday Kotak Kotak Mahindra Bank founder Uday Kotak stated that the Rs 30,213 crore public issue will crown Reliance as India's most valuable group by total market cap. With an attractive 34x valuation multiple and over 53 crore subscribers, the offering is generating strong global momentum. The upcoming initial public offering from Reliance Industries' telecom and digital powerhouse, Jio Platforms, is set to alter the hierarchy of India Inc. According to Uday Kotak, founder of Kotak Mahindra Bank, the listing of Jio Platforms will establish the Reliance Group as the country's most valuable business conglomerate based on the aggregated market capitalization of its listed entities. Arriving nearly two decades after the group's last massive public issue, this market debut is on course to become the largest corporate fundraising exercise ever witnessed on domestic exchanges. A Record-Setting Rs 30,213 Crore Public Issue and Schedule The public subscription window for Jio Platforms is scheduled to open on October 21. Under the issue structure, the company is bringing 27 crore fresh equity shares to the market. The management has established a price band spanning from Rs 1,065 to Rs 1,119 per share. Calculated at the upper price ceiling of Rs 1,119, the overall offering stands at approximately Rs 30,213 crore. Touching this figure will officially seal its position as the biggest IPO in the history of Indian equity markets. Discounted Valuation Multiples Relative to Key Competitor Evaluating the investment merit, Uday Kotak noted that Jio Platforms enters the market at an appealing valuation multiple compared to its primary industry rival. Pegged against projected earnings for the financial year 2025-26, Jio's valuation stands at around 34 times. In comparison, its chief industry competitor trades at an estimated multiple of nearly 41 times forward earnings. This distinct valuation discount of seven multiples offers a compelling entry point for both institutional managers and prospective retail participants looking for long-term growth. Global Institutional Roadshows by Akash Ambani Institutional interest in the mammoth issue has been robust ahead of the opening date. In a proactive move to court long-term capital, Akash Ambani, Managing Director of Jio, personally engaged in strategic discussions with 50 leading global investors worldwide. These international interactions have significantly bolstered institutional demand across prominent global investment hubs. A Subscriber Network Exceeding 53 Crore Users Ever since its commercial debut in the telecommunications landscape, Jio has served as the bedrock of India's rapid expansion in mobile connectivity and widespread digital adoption. By delivering ultra-affordable high-speed mobile data and establishing a comprehensive suite of digital services, the company has expanded its user base beyond 53 crore customers. The formal transition into a publicly listed enterprise is expected to grant the company enhanced market prestige while meaningfully expanding the broader Reliance Group's enterprise value and market standing. What this means for you This historic market offering from Jio Platforms directly impacts retail stock investors, mutual funds, and overall corporate market capitalization in India. • For Retail Investors: Bidding opens on October 21 within a price band of Rs 1,065 to Rs 1,119 per share. It provides individuals an avenue to secure direct equity ownership in India's largest digital and telecom network with over 53 crore subscribers. • Valuation Advantage: Priced at roughly 34 times projected FY26 earnings, Jio offers a clear discount compared to its top rival trading near 41 times. This discount creates potential room for healthy listing performance and capital appreciation. • Reliance Shareholders: The successful debut will solidify the Reliance Group as India's largest conglomerate by total market value. This unlock in asset value can positively reflect across Reliance Industries' broader corporate valuation. • Market Liquidity: Mobilizing Rs 30,213 crore will channel substantial domestic and foreign capital into the primary issuance market. The record size establishes a benchmark for upcoming large-scale corporate listings across the country. Why this happened Strategic corporate value unlocking, extensive capital mobilization, and conscious pricing decisions underpin Reliance Group's decision to launch this record-setting public issue after two decades. • Value Unlocking Strategy: Reliance aims to grant its high-growth telecom and digital arm an independent market valuation. Bringing an enterprise serving over 53 crore users to the exchanges will position the combined Reliance Group as India's largest listed conglomerate. • Competitive Valuation Multiple: By pricing the 27 crore share issue at roughly 34 times FY26 earnings versus its primary peer's 41 times, management purposefully created an attractive valuation buffer. This discount is engineered to draw sustained interest across all investor categories. • Institutional Engagement: To ensure complete subscription for the Rs 30,213 crore issue, Managing Director Akash Ambani conducted direct outreach meetings with 50 global institutional investors. This extensive groundwork solidified anchor interest ahead of the formal subscription launch. Questions & Answers 1. When does the Jio Platforms IPO open for subscription? The initial public offering of Jio Platforms is scheduled to open for subscription on October 21. 2. What is the price band announced for Jio Platforms shares? The price band has been fixed between Rs 1,065 and Rs 1,119 per equity share. 3. What is the total issue size of the Jio Platforms IPO? At the upper end of the price band, the issue size is approximately Rs 30,213 crore through the issuance of 27 crore fresh shares. 4. What will happen to Reliance Group's position after Jio lists according to Uday Kotak? Uday Kotak stated that post-listing, Reliance Group will emerge as India's largest business conglomerate based on total listed market capitalization. 5. How does Jio Platforms' valuation compare to its chief competitor? Based on projected FY26 earnings, Jio is valued at approximately 34 times compared to roughly 41 times for its main competitor. 6. How many subscribers does Jio currently serve across India? Jio currently has an expansive customer base exceeding 53 crore users across the country. https://trendkia.com/en/business/jio-platforms-ki-listinga-se-reliance-banega-desha-ka-sabase-mulyavana-karobari-samuha-uday-kotak-ne-anki-takata-48764 TrendKia — Har trend, sabse pehle.