Overview
- Jio Platforms opened its fresh‑issue IPO on Wednesday with a price band of Rs 1,065–1,119 for 27 crore new shares after allotting about Rs 8,110 crore to 212 anchor investors at the top of the band.
- The anchor round drew roughly Rs 2.5 lakh crore of bids and the IPO valued Jio at about $108 billion at the upper band, making this the biggest new equity sale in India by value.
- Early public bidding saw strong institutional demand with the QIB portion filled within minutes and the overall issue roughly 58% subscribed in initial exchange data.
- About Rs 27,500 crore of the roughly Rs 30,213 crore target will be used to repay or prepay borrowings of Reliance Jio Infocomm while the balance will support general corporate purposes and growth investments.
- Jio is pitching itself as an Indian‑built, cloud‑native telecom technology exporter with in‑house 4G/5G cores and RAN software, but grey‑market quotes showing a Rs 273 premium are unofficial and the company still faces tariff pressure, competition from satellite players and the challenge of lifting ARPU.