Reliance Industries’ digital arm, Jio Platforms, has received strong global investor interest during its overseas roadshows ahead of its proposed IPO, expected by the end of October. The listing is anticipated to value Jio at an enterprise valuation of $143-146 billion (over ₹12 lakh crore), potentially making it the largest IPO in Indian history, according to thehindubusinessline.com.
Jio conducted roadshows across the US, UK, Dubai, Hong Kong, and Singapore, drawing overwhelmingly positive feedback from investors despite ongoing market volatility. The company may also hold additional roadshows within India to further engage potential investors. The draft red herring prospectus did not include an offer-for-sale component, indicating existing investors such as Google, Meta, and Silver Lake are not diluting their holdings at listing, thehindubusinessline.com reported.
The IPO is set to surpass Hyundai Motor India’s ₹27,870-crore public issue in 2024, positioning Jio among the top five most valuable listed companies in India by market capitalization. Analysts have noted that even at a ₹13-14 lakh crore market cap, Jio’s listing will significantly impact the Indian stock market landscape, thehindubusinessline.com added.
Jio’s listing is scheduled for later this month, with the company finalizing pricing and investor allocations following the completion of roadshows. The final valuation and subscription details will be disclosed upon the IPO’s launch, thehindubusinessline.com confirmed.