Jio Platforms is expected to launch its initial public offering (IPO) by the end of October with an enterprise valuation estimated between $143 billion and $146 billion, or over ₹12 lakh crore, according to sources tracking the development. The IPO is projected to be India's largest public offering, targeting a size of approximately $3.8 billion, per thehindubusinessline.com.
The company has completed overseas roadshows in the US, UK, Dubai, Hong Kong, and Singapore, led by Jio Platforms Managing Director and Reliance Jio Chairman Akash Ambani along with Reliance Retail Ventures Executive Director Isha Ambani. Following these events, Jio Platforms plans to file its red herring prospectus with the Securities and Exchange Board of India (SEBI) in the week starting October 12. An anchor investor round is expected to commence before the Dussehra festival, with the IPO opening shortly after, before October 23, sources told thehindubusinessline.com.
This IPO is set to be a landmark in India's capital markets, potentially becoming the largest public offering in the country. The valuation range of $143-146 billion positions Jio Platforms among the most valuable tech companies globally. The fundraising will support Jio Platforms' expansion in digital services and infrastructure, competing with other major Indian tech listings such as Reliance Industries and Infosys. The scale of the offering reflects strong investor interest following the extensive international roadshows.
Jio Platforms aims to list on the stock exchanges by the end of October, with the anchor round starting before Dussehra and the public issue opening before October 23, according to banking sources cited by thehindubusinessline.com.