Overview
- The IPO is expected to open for public subscription on October 21 and close on October 23 with a likely listing on October 28 and an indicative price band near ₹1,065–₹1,119 per share.
- Jio is targeting roughly ₹30,200 crore in fresh proceeds from the sale of up to 27 crore new shares, making it set to be India’s largest-ever IPO if final terms hold.
- The company plans to use about ₹27,500 crore of net proceeds to repay or prepay borrowings of Reliance Jio Infocomm, a move that management says will lower interest costs and improve cash flow.
- Reports show strong institutional interest with anchor-book bids said to exceed $20 billion and grey-market premiums around ₹210–₹220 per share, though grey-market quotes are unofficial and can vary.
- The listing would give Jio a separate market valuation near ₹10.3–10.4 lakh crore, mark Reliance’s return to the primary market after nearly 20 years, and could reshape how investors value India’s telecom and digital services firms.