Market momentum is building rapidly around the public market debut of Reliance Jio, the country's leading telecom service provider. The company is actively preparing to launch its initial public offering later this month, with share prices expected to hover around the 1,100 rupees mark. Current projections suggest the issue may open for bidding on October 21, paving the way for the company's shares to begin trading on domestic bourses by the end of the month. Ahead of the market debut, the company's valuation has been pegged at upwards of 10 lakh crore rupees.
Targeting Over 30,000 Crore Rupees in Fresh Capital
Jio Platforms, the digital services powerhouse under Reliance Industries, is structuring this public offering to raise in excess of 30,000 crore rupees. To support this target, the proposed price band for the public issue has been framed between 1,065 rupees and 1,119 rupees per share. Broader financial estimates indicate the total capital raised could reach around 30.2 thousand crore rupees. Gathering funds on this scale would comfortably position this offering as the largest initial public issue ever presented on Indian exchanges.
Issue Schedule and Key Subscription Milestones
The operational roadmap for the upcoming market offering lays out a fast-tracked timeline for investors. Under the current schedule, the issue will open for general public bidding on October 21 and run through May 23. Ahead of the primary subscription window, institutional anchor investors will be able to take part starting October 19. If the schedule progresses as planned, the equity shares will list on stock exchanges on October 28, marking the official start of secondary market trading.
Surpassing the Benchmark Set by Hyundai
The record for India's biggest public issue has until now been held by automaker Hyundai, which launched its 27.80 thousand crore rupee public issue in October 2024. Jio's proposed issue of more than 30,000 crore rupees is set to eclipse that previous high-water mark. The company is getting ready to introduce 27 crore new shares to the public markets through this offering. While initial estimates valued the company at roughly 11 lakh crore rupees, recent projections place its current valuation at 10.30 lakh crore rupees, following an earlier 115 billion dollar assessment reported in June. To oversee an offering of this scale, a syndicate of 19 major financial institutions has been appointed, including Kotak Mahindra Capital, Morgan Stanley, Bank of America, Axis Capital, BNP Paribas, and Citigroup.
