Jio Platforms, Paras Healthcare IPOs lead market activity this week
What's the story
The primary market this week will be dominated by the highly anticipated ₹30,188 crore initial public offering (IPO) of Jio Platforms. The offer opens on October 21 and closes on October 23. Another major player looking to tap into the market is Paras Healthcare with an IPO worth ₹1,450 crore.
Market debuts
Nine companies set to list this week
A total of nine companies are set to make their debut on the stock exchanges this week.
HD Fire Protech will list on October 21, followed by Fusion CX on October 22.
Tonbo Imaging India, Zetwork Manufacturing Business, Bonfiglioli Transmissions, and Sahajanand Medical Technologies are scheduled for listing on October 23.
IPO specifics
Jio Platforms's ₹30,188 crore IPO
Jio Platforms, Reliance Industries's digital services arm, is gearing up for its first public offering of ₹30,188 crore.
The company has set a price band of ₹1,065-1,119 per share for the issue. The offer consists of a fresh issue of 27 crore equity shares.
Jio Platforms plans to use ₹27,500 crore from the proceeds to repay borrowings of its material subsidiary Reliance Jio Infocomm.
Record-breaking IPO
Upcoming issue to be India's largest IPO
The upcoming issue will be India's biggest IPO, surpassing Hyundai Motor India's ₹27,859-crore public offer in 2024.
The National Stock Exchange's ₹22,563-crore issue in 2026 and Life Insurance Corporation of India (LIC)'s ₹20,557-crore offering in 2022 are other major issues in the country's primary market history.
Financial stability
Financial performance and debt repayment plans
Jio Platforms reported a 9.1% year-on-year (YoY) rise in consolidated profit to ₹7,765 crore for the June 2026 quarter.
Revenue increased by 11.8% to ₹39,172.9 crore during this period.
The planned debt repayment from the IPO proceeds is expected to strengthen the company's balance sheet as it looks to expand its telecom and digital services businesses.
Healthcare expansion
Paras Healthcare's IPO opening this week
Gurugram-based Paras Healthcare will also open its IPO this week. The company plans to raise ₹1,450 crore at the upper end of its price band of ₹660-693 per share.
The offer consists of a fresh issue of ₹500 crore and an offer for sale (OFS) worth ₹650 crore by promoter Dharminder Kumar Nagar and investor Commelina.