Ambani’s Jio said to seek about Rs 11 lakh crore valuation in IPO

Jio Platforms is reportedly targeting a valuation of around Rs 11 lakh crore for its planned initial public offering. The telecom and digital services business of Reliance Industries could open the issue in the week of October 19, with a stock market listing before October 30, according to Bloomberg. The sought valuation is below earlier estimates that had reached as high as $170 billion. No issue size, offer structure, price band or stake sale details were provided, so the reported timetable and valuation remain subject to formal filings and company confirmation.

For Reliance Industries, the IPO could establish a public valuation for a major subsidiary, making its holding more visible and potentially affecting views of the parent’s conglomerate discount and funding flexibility. It may also provide a benchmark for listed telecom and internet businesses, while Oil and Energy is exposed through Reliance’s market weight. Reliance last traded at Rs 1,210.60, down 0.6% today, 7.9% in one month and 5.8% in three months, and 24% below its 52 week high. Telecom and Internet is down 3.7% over one month and 7.5% over three months. Formal terms near Rs 11 lakh crore, firm demand and the stated schedule would support this reading; delay, lower pricing or weak demand would weaken it.