Reliance Jio’s rise in the past 10 years has radically redrawn India’s telecom landscape, changing the meaning of staying connected, turning mobile data from a relatively expensive service into an affordable everyday necessity, and forcing an entire industry to rethink its business model.
Reliance Jio has filed its red herring prospectus, setting October 21 as the opening date for its IPO, which will remain open until October 23. The issue, which will be India’s largest public offering, comprises a fresh issue of 27 crore shares. It includes a reservation of up to Rs 2,500 crore for eligible Reliance Industries shareholders and up to Rs 500 crore for employees.
