Veteran banker Uday Kotak said the upcoming Jio Platforms initial public offering (IPO) is priced “attractive” for investors, adding that the parent, Reliance Industries, has believed this since its own public issue in 1977. “Jio platforms, on a relative basis, have made it attractive for investors,” Kotak, the founder-director of private sector lender Kotak Mahindra Bank, said.
The company is issuing 270 million new equity shares in a price band of Rs 1,065 to Rs 1,119 per share. According to Kotak, based on estimated earnings for fiscal year 2025-26, Jio’s valuation is approximately 34 times, while its top competitors are valued at approximately 41 times. He believes this difference could make Jio’s shares attractive to investors.
Jio Platforms’ IPO is scheduled to open for subscription on October 21. The issue size at the upper end of the price band is estimated to be approximately Rs 30,213 crore. This could make it India’s largest IPO to date.
IPO can bring significant changes for Reliance Industries
The Jio Platforms IPO could bring significant change for Mukesh Ambani’s Reliance Industries. Kotak Mahindra Bank founder Uday Kotak believes that after Jio’s listing on the stock exchange, Reliance Group will become the country’s largest business group by total market cap of its listed companies. This Jio IPO is also considered very important for investors. The company is preparing to raise approximately Rs 30,213 crore through this issue.
Akash Ambani meets global investors
Uday Kotak said that institutional investors have shown significant interest ahead of the IPO. Jio Managing Director Akash Ambani has personally met with 50 investors worldwide.
Jio reaches 53 crore customers
Kotak said that Jio’s entry into the telecom market played a key role in transforming internet connectivity in India. The company has helped make mobile data affordable and expanded access to digital services. Jio’s subscriber base is reported to be over 530 million. Now, the focus will be on the company’s market recognition and investor response through the IPO. Its listing could significantly boost the Reliance Group’s total market value and business position. The Jio Platforms initial public offering (IPO) is the first such issuance from Mukesh Ambani-led Reliance Industries.
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