Jio Platforms, the telecom and digital services arm of Reliance Industries, has fixed the price band for its much-awaited initial public offering (IPO) at ₹1,065 to ₹1,119 per share. The IPO could raise around ₹30,213 crore at the upper end of the price band, potentially making it the largest IPO in India’s history.
According to regulatory filings by Reliance Industries, the IPO will comprise a fresh issue of up to 27 crore equity shares, each with a face value of ₹10.
The public issue will open for subscription on Wednesday, October 21, and close on Friday, October 23. Bidding for anchor investors is scheduled for Monday, October 19.
The proposed IPO is expected to be a major milestone for Jio Platforms, which operates in India’s telecommunications and digital services sectors. The issue is likely to attract significant attention from investors given the company’s scale and its position in the country’s digital economy.
If the issue raises ₹30,213 crore at the upper end of the price band, it would surpass previous major public offerings to become India’s largest IPO by issue size.