Jio Platforms is likely to seek a valuation of about $114 billion in its IPO
The company could open the share sale in the week of October 19 and list before October 30
At that valuation, Jio would rank as India’s third most valuable listed company
Reliance Industries’ digital and telecom arm Jio Platforms is likely to seek a valuation of around $114 billion through its planned initial public offering (IPO), as per a report by Bloomberg.
The proposed valuation is below earlier expectations for Jio, which had at one stage been valued at between $130 billion and $170 billion ahead of its public listing.
1 October 2026
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Jio has completed its demand assessment and is expected to begin meetings with potential investors this week to discuss valuation and pricing, the report said.
Jio IPO Could Open On October 19
Jio is looking to open its IPO in the week beginning October 19 and list its shares before October 30, per the BBG report.
The final dates, valuation and other terms remain under discussion and could change.
At a valuation of $114 billion, Jio would become India’s third most valuable listed company, behind parent Reliance Industries, valued at about $169 billion, and Bharti Airtel, its main telecom rival, at around $116 billion, the report said.
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Jio filed its draft prospectus in June, proposing to issue up to 270 million new shares, equivalent to about 2.93% of its post-issue equity.
Jio IPO Comes Amid Market Volatility
The proposed valuation is broadly in line with some recent estimates. Motilal Oswal Financial Services had estimated Jio’s value at $115 billion-$118 billion in June, while Dolat Capital put it at around $110 billion, the Bloomberg report said.
The pricing expectations also come after a broader stock market sell-off affected several Indian IPOs, including the planned listing of the National Stock Exchange of India, which was subsequently downsized.
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At a $114 billion valuation, the shares on offer would be worth roughly $3.4 billion. That would exceed the $2.9 billion raised by Hyundai Motor’s Indian unit in 2024, as per Bloomberg.
Jio has appointed 19 banks for the IPO, including Kotak Mahindra Capital, Morgan Stanley, BofA Securities, Axis Capital, BNP Paribas and Citigroup, per BBG.
