Story perspectives

Jio Platforms IPO opens, valuing deal up to INR302 billion

By Drooid · Oct 20, 2026, 2:42 PM UTC · How we work

Summary

Story summary

Mukesh Ambani launches Jio Platforms IPO for up to 302 billion rupees ($3.2 billion).
Offer price band is 1,065–1,119 rupees per share, lot size 12.
Anchor investors received about 72.5 million shares at 1,119 rupees, raising 8,109.85 crore rupees.
Demand for the anchor tranche exceeded 2.5 lakh crore rupees ($26.3 billion), over 30 times the quota.
Proceeds will repay RJIL borrowings up to 27,500 crore rupees, reducing Reliance’s stake to 64.5% and raising public ownership to ~35%.

History

Historical Context

In February 2007 Vodafone Group agreed to buy Hutchison Essar’s 67% stake for about $11.1 billion, creating one of India’s largest foreign-direct-investment telecom deals. The scale of that transaction set a benchmark that resurfaced in 2023 when Reliance’s Jio Platforms filed an IPO seeking up to 302 billion rupees, prompting regulators to tighten listing norms.

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Story summary

Mukesh Ambani launches Jio Platforms IPO for up to 302 billion rupees ($3.2 billion).
Offer price band is 1,065–1,119 rupees per share, lot size 12.
Anchor investors received about 72.5 million shares at 1,119 rupees, raising 8,109.85 crore rupees.
Demand for the anchor tranche exceeded 2.5 lakh crore rupees ($26.3 billion), over 30 times the quota.
Proceeds will repay RJIL borrowings up to 27,500 crore rupees, reducing Reliance’s stake to 64.5% and raising public ownership to ~35%.

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