Jio IPO likely by Oct end at enterprise valuation of above ₹12 trillion

Jio Platforms is being prepared for a possible market debut by the end of October, according to unidentified banking and other sources tracking the transaction. They indicated a base enterprise valuation of USD 143 to USD 146 billion, or at least Rs 12 lakh crore, and an estimated IPO size of USD 3.8 billion. Overseas roadshows have concluded across the US, UK, Dubai, Hong Kong and Singapore. Final offer documents are expected to be submitted to SEBI in the week beginning October 12, although the company did not respond to a request for comment.

Reliance Industries is the clearest listed market proxy for the proposed flotation, while telecom, digital services, and the broader Oil and Energy segment may also react. A separate Jio valuation could give investors a clearer benchmark for the group's digital assets and influence perceptions of Reliance's conglomerate value. Reliance last traded at Rs 1,211.60, down 0.5% today, 7.9% over 1 month and 5.8% over 3 months, and stood 24% below its 52 week high. Oil and Energy fell 3.9% over 1 month and 4.2% over 3 months. SEBI filing, firm terms and sustained demand would confirm the reading; delay, a smaller offer or lower valuation would weaken it.