Jio Platforms IPO set to open October 21 — India's biggest-ever listing at over Rs 30,000 crore
Sources tell ET Now that Mukesh Ambani-led Jio Platforms plans to open its IPO on October 21, raising at least Rs 30,000 crore — which would make it India's largest public issue. The dates and size remain unconfirmed by the company.
Mukesh Ambani-led Jio Platforms is planning to launch India’s largest-ever initial public offering on October 21, with an issue size of at least Rs 30,000 crore, sources told ET Now. The issue is expected to open for anchor investors on October 19, ahead of public subscription on October 21 (ET Now).
At the proposed size it would surpass the NSE’s approximately Rs 22,600 crore listing last month as India’s biggest public issue. ET Now’s sources value Jio Platforms at at least Rs 10.3 lakh crore post-money — about 2.9–3 per cent of post-IPO equity.
The October 21 date is sources-based, unannounced by the company, and Reliance did not respond to ET Now’s query. Reuters reported on October 5 that the offer would seek about $3.8 billion with a listing on October 28, citing two sources (Reuters). PTI separately reported a valuation of $143–146 billion — at least Rs 12 lakh crore — with final SEBI papers expected in the week of October 12 and overseas roadshows led by Akash Ambani and Isha Ambani across the US, UK, Dubai, Hong Kong and Singapore (PTI via ETV Bharat).
The draft prospectus, filed with SEBI on June 19 and approved at end-August, proposes up to 270 million fresh shares with no offer-for-sale. Up to Rs 27,500 crore of proceeds are earmarked to prepay Reliance Jio Infocomm debt, and Reliance Industries — 66.4 per cent holder, alongside Meta affiliate Jaadhu Holdings (9.98 per cent) and Google International (7.73 per cent) — stays promoter.
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