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Jio Platforms IPO: Launch and Market Impact

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2026-10-26 06:19 UTC → 2026-10-26 08:07 UTC · added ~~removed~~

The Securities and Exchange Board of India (SEBI) has approved the initial public offering (IPO) for Jio Platforms, the digital services arm of Reliance Industries. The offering, consisting of 270 million fresh equity shares, is expected to raise approximately ₹30,213 crore at the upper end of its ₹1,065 to ₹1,119 per share price band. If successful, the IPO could value the company at roughly ₹10.3 lakh crore, potentially raising Reliance Industries’ total market capitalization to approximately ₹28.5 lakh crore and allowing it to surpass the Tata Group as India’s most valuable conglomerate. Prior to the launch, the company conducted international roadshows in financial hubs including the US, UK, Dubai, Hong Kong, and Singapore. Managing Director Akash Ambani noted the company aims to capture a significant portion of India’s projected $1.4 trillion digital economy by FY31. The proceeds are intended to fund strategic initiatives and reduce debt, specifically to make the company net debt-free by repaying approximately $3 billion in outstanding borrowings. As the subscription period ran from October 21 to October 23, 2026, the IPO saw unprecedented ~~demand. It became~~ demand, becoming India’s largest IPO to ~~date,~~ date by surpassing the ~~previous~~ record held by Hyundai Motor India. The ~~offering received~~ issue was fully subscribed within 100 minutes of opening, receiving approximately 1.38 crore to 1.39 crore applications with a total ~~subscription rate of 22.19 times, and total~~ bids ~~reached approximately ₹7.40~~ exceeding ₹7.4 lakh crore. Subscription levels included 70.55 times for Qualified Institutional Buyers ~~(QIBs) drove significant interest, with their quota subscribed 70.55 times.~~ (QIB), 14 times for Non-Institutional Investors (NII), and 2.72 times for retail investors. Following share allotment on October 26, with refunds for unsuccessful applicants starting October 27, the company is scheduled to list on the BSE and NSE on October 28, 2026. Grey market signals suggest a potential listing gain of ~~approximately~~ over 22 ~~percent.~~ percent, with a premium of approximately ₹247 indicating a potential listing price of around ₹1,366.

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