Mukesh Ambani's Jio Platforms is said to have set a price band of Rs 1,065-1,119 per share for its much-awaited initial public offering, ET Now reported, citing agencies, setting the stage for what could become India’s largest public issue. Based on the draft offer size of up to 27 crore fresh equity shares, the issue could raise about Rs 28,755 crore at the lower end and Rs 30,213 crore at the upper end. The final issue size will depend on the offer terms disclosed in the red herring prospectus.
The price band buzz comes as Jio Platforms prepares for a likely IPO launch on October 21, with shares expected to list on October 28, Reuters reported earlier this week. The IPO has been widely expected to be India’s biggest listing and could surpass recent large issues, including Hyundai Motors India and the NSE.
