Jio Platforms IPO Launching at ₹1,065 to ₹1,119 per Share
Jio Platforms is set to launch its IPO from October 21 to 23, with expectations of raising ₹30,213 crore, making it potentially India's largest IPO.
Jio Platforms aims to raise ₹30,213 crore through its IPO, priced between ₹1,065 and ₹1,119 per share.
The company has reported significant growth in its customer base and revenue, with a 20.5% PAT margin in FY26.
Jio holds the largest spectrum portfolio in India, enhancing its capabilities in 5G and future technologies.
Jio Platforms, the digital and telecom subsidiary of Reliance Industries, is gearing up for its Initial Public Offering (IPO) scheduled from October 21 to 23, 2023. The shares are priced between ₹1,065 and ₹1,119 each, with the upper limit potentially raising ₹30,213 crore, which could position it as the largest IPO in India to date.
The IPO will feature a fresh issuance of up to 27 crore equity shares, each with a face value of ₹10. Bidding for anchor investors is set for October 19, as per regulatory filings from Reliance Industries. Currently, the grey market premium (GMP) for Jio Platforms shares stands at ₹235, suggesting a potential listing price of ₹1,354, which is approximately 21% above the upper IPO price.
Jio Platforms has demonstrated robust growth, boasting 533 million subscribers as of the first quarter of FY27, with a significant increase in average revenue per user (ARPU) from ₹181.7 in FY24 to ₹215.6 in FY27. The company reported a revenue rise from ₹1,09,558 crore in FY24 to ₹1,46,885 crore in FY26, alongside a profit after tax (PAT) increase to ₹30,064 crore in FY26, reflecting a healthy PAT margin of 20.5%.
The company’s extensive spectrum portfolio, the largest in India at 26,800.8 MHz, supports its leading position in the 5G market. Jio Platforms is not only focused on mobile connectivity but is also investing in satellite broadband and 6G technologies. This strategic expansion aims to enhance connectivity in remote areas and improve service availability through partnerships with global satellite operators.
Looking ahead, Jio Platforms is poised for significant growth as it prepares for its IPO. The company’s innovative approach and strong financial performance indicate a promising future. Investors are advised to stay informed about the IPO details and market conditions, as the subscription window approaches.
