Jio Platforms, the digital and telecom arm of Reliance Industries, will launch its much-anticipated initial public offering (IPO) for subscription on October 21. The company filed its red herring prospectus (RHP) on October 14, paving the way for what could become India’s largest-ever public issue.
The IPO comprises a fresh issue of up to 27 crore equity shares, with the proposed fundraise expected to be around Rs 30,000 crore. At the reported valuation of about Rs 10.3 lakh crore, or $106 billion, the offering would surpass Hyundai Motor India’s Rs 27,856 crore IPO in October 2024.
