Billionaire Mukesh Ambani is taking Jio Platforms to the public markets as the telecom and digital services arm of his Reliance Industries empire moves closer to what could be India’s largest-ever IPO.
The company is reportedly planning to raise around Rs 37,700 crore, with the issue expected to open for subscription on October 21 and a proposed price band of Rs 1,150–1,220 per share. At a reported valuation of around Rs 11 trillion ($114 billion), Jio’s scale, growth prospects and competitive position are set to be closely watched by investors.
