Jio Platforms IPO valued at ₹10.3 trillion, opens October 21

Jio Platforms Limited, the digital services subsidiary of Reliance Industries, has set its IPO pricing at a multiple of 34 times earnings, positioning it at a discount to telecom rival Bharti Airtel's comparable valuation of 39 times earnings. The price band of ₹1,065 to ₹1,119 per share values the company at approximately ₹10.3 trillion, making it one of India's largest public offerings.

The public subscription for the IPO is scheduled to commence on October 21, with the fundraising targeting ₹30,213 crores. The company has designated the issue proceeds primarily for debt repayment, reflecting a focus on strengthening its balance sheet following significant capital expenditures in recent years.

Jio Platforms operates as the holding entity for Reliance's digital and technology ventures, including Jio telecom services, digital payments, cloud infrastructure, and artificial intelligence initiatives. The IPO comes as the company seeks to unlock shareholder value while maintaining financial flexibility for future growth investments.

The pricing reflects investor sentiment toward India's telecom and digital services sector, as competition intensifies among major players expanding beyond traditional voice and data services into broader technology-enabled offerings. Industry observers will closely monitor subscription levels to gauge market appetite for the offering.