The Reliance Industries has a strong presence in India’s telecommunication market and has remained ahead of its rivals and competitors. As the Mukesh Ambani-led conglomerate continues expanding its footprints in Indian markets, the Jio Platforms is all set to open its initial public offering (IPO) on October 21 (Wednesday).ย
It has attracted a significant interest from both domestic and international investors, with reports claiming that the aggregate demand has already reached around Rs 2.5 lakh crore, which is eight times more than the issue size of Rs 30,213 crore.
Jio IPO draws domestic, global insurers, asset managers’ interest
Not just from investors, but the Jio IPO has also drawn a significant interest from India’s top insurers. Life Insurance Corporation (LIC), the State Bank of India (SBI) Mutual Fund, and the HDFC Mutual Fund are among those seeking an allocation, according to reports.
Alongside them, many international investment firms and institutional investors such as Capital Group, BlackRock, Fidelity Investments, Norges Bank Investment Management, Qatar Investment Authority, and Abu Dhabi Investment Authority have shown their interest in Jio IPO, reports have suggested.
‘Jio IPO valuation lower than closest rival’
Veteran banker Uday Kotak has highlighted that the valuation at which shares of Jio IPO are being offered is lower than its closest rival. He said care has been taken to ensure the upcoming offer is priced “attractive” for investors to make returns.
Jio is priced at 34 times consolidated earnings for FY26, while its closest rival is trading at 41 times, he said. “Jio platforms, on a relative basis, have made it attractive for investors,” Kotak, the founder-director of private sector lender Kotak Mahindra Bank, said.
All about the Jio IPO
Isha Ambani, Reliance Industries director, has underlined the importance of making the Jio IPO accessible for shareholders. “I think a part of Reliance’s philosophy, and one that really has been passed on to us from our grandfathers’ time, is to create shareholder value,” she said.
The company is offering 27 crore new equity shares in the price band of between Rs 1,065 and Rs 1,119 per share to investors to make it a Rs 30,213 crore issuance at the upper end of the price band, which will be the largest IPO in India ever.
The Jio Platforms initial public offering (IPO) is the first such issuance from Mukesh Ambani-led Reliance Industries and is set to be open between October 21 and October 23.
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