Reliance Jio's IPO has finally reached the price-band stage, and the answer to the biggest question on Dalal Street is more measured than euphoric: the issue looks fairly priced, possibly with room for moderate listing gains, but analysts do not see it as a bargain at the upper end.
Jio Platforms has fixed the price band at Rs 1,065-1,119 per share for its mega IPO, valuing the company at about Rs 10.3 lakh crore at the top end. The issue comprises a fresh sale of up to 27 crore equity shares, which means Jio could raise Rs 28,755 crore at the lower end and about Rs 30,213 crore at the cap price.
