Reliance Industries is planning its biggest value-discovery event, but the stock market is refusing to celebrate early. Even as the proposed Jio Platforms IPO gathers pace , RIL shares have fallen nearly 5% in the last five sessions, 7% over the past month and a steep 26% so far this year. The disconnect is against the expectations that the much-awaited public offer will put a visible market value on Reliance's most prized growth asset.
Reports suggest Jio Platforms could be valued at as much as Rs 10.3 lakh crore at the proposed price band of Rs 1,065-1,119 per share. The issue could raise about Rs 30,200 crore at the upper end, with the IPO likely to open for subscription on October 21 and list on October 28, subject to final filings.
