Mukesh Ambani's Company Plans to Raise ₹30,200 Crore at $107 Billion Valuation

• by Akanksha Mishra
• 2026-10-09 19:58:00

In what could easily become the biggest milestone in India's primary market history, Mukesh Ambani's digital and telecom powerhouse Jio Platforms is gearing up for its highly anticipated initial public offering (IPO). According to recent reports, the company is eyeing a massive issue size of approximately ₹30,200 crore, positioning it to surpass previous domestic market records.

Proposed Price Band and Valuation Details

While final discussions regarding pricing and timelines are still underway, preliminary reports outline a structured framework for the massive public offering:

Price Band: The company is planning to set a price band ranging between ₹1,065 and ₹1,119 per share.

Target Valuation: Jio Platforms aims to achieve a total market valuation of approximately ₹10.3 lakh crore (around $107 billion). Although this is slightly lower than some earlier early-year estimates that ranged between $110 billion and $130 billion due to recent broader stock market corrections, it remains a staggering financial milestone.

New Share Issuance: The company plans to issue up to 27 crore new shares, constituting roughly 2.93% of the post-issue total equity capital.

Tentative Timeline and Market Impact

If the proposed issue size reaches ₹30,200 crore, it will comfortably eclipse Hyundai Motor India's ₹27,800 crore IPO from October 2024 to become India's largest IPO to date.

While official confirmation is awaited, tentative dates indicate that the subscription window could open on October 21 and close on October 23, with anchor investors bidding on October 19 and shares officially listing on October 28. To manage the massive institutional and retail book-building process, Jio Platforms has appointed a formidable syndicate of 19 global and domestic banks, including Morgan Stanley, Bank of America, Citigroup, Axis Capital, Kotak Mahindra Capital, and BNP Paribas.

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