Jio Platforms sets IPO price band to fund debt repayment

Jio Platforms Limited has announced its initial public offering (IPO) price band of ₹1,065 to ₹1,119 per share. The company plans to issue up to 27 crore new shares, raising significant capital which Managing Director Akash अंबानी stated will be used entirely to repay approximately $3 billion in net debt, making the company net debt-free.

Akash अंबानी identified mobility, home, and international enterprise services as the three primary growth engines for the company. He noted that through technology and digital infrastructure, Jio Platforms aims to play a major role in India’s projected $1.4 trillion digital economy by fiscal year 2031.

The bidding process is scheduled to run from October 21 to October 23, with anchor investors bidding on October 19. The shares are expected to be listed on stock exchanges on October 28. Financial reports indicate the company saw a 14.6% increase in operating revenue to ₹1,46,885 crore in fiscal year 2026, with net profit rising 15% to ₹30,049 crore.

Major international investors, including Meta and Google, are expected to see significant paper profits from the IPO. Based on the upper price band, the combined value of their holdings could reach approximately ₹1.77 lakh crore, representing a substantial increase from their initial 2020 investments.