Jio Platforms to list Oct 28 after ₹30,213 cr IPO
Jio Platforms, Reliance Industries's digital powerhouse, is making its stock market debut on October 28. The IPO was a massive hit, raising ₹30,213 crore and oversubscribed 22.2 times.
With a valuation touching ₹10.3 lakh crore (and even higher in the gray market), Jio could soon overtake Bharti Airtel as India's second-biggest listed company.
Jio IPO proceeds will clear debt
Jio's IPO broke records with more than 1.38 crore applications, showing just how much buzz there is around this launch.
Most of the funds will go toward clearing debt, and analysts are upbeat about Jio's future in broadband, enterprise tech, and AI, making this one to watch for anyone interested in India's digital growth story.
Following the listing, the Reliance Group is set to become India's largest listed business group by aggregate listed market capitalisation.