Jio Platforms IPO priced ₹1,065-₹1,119 aims to raise over ₹30,000cr
Telecom stocks jumped on Thursday as investors turned their attention to Jio Platforms's upcoming initial public offering (IPO).
With shares priced between ₹1,065 and ₹1,119, Jio aims to raise over ₹30,000 crore, setting a new benchmark for its value.
Bharti Airtel gained 3.88% to ₹1,869, and even Vodafone Idea and Indus Towers saw their prices head north.
Reliance Industries stock rises 2.59%
Reliance Industries (Jio's parent) also got a boost, with its stock rising 2.59% to ₹1,206.35 thanks to all the IPO buzz.
Analysts at Nomura peg Jio's equity value at up to ₹9.8 lakh crore to ₹10.3 lakh crore, giving us a peek into how big telecom players are valued these days.
The sector's heating up with subscriber growth, tariffs, and earnings, and so this IPO is kind of a big deal for anyone watching India's digital future.