Jio Platforms, Reliance Industries’ digital and telecom arm, has set a price band of ₹1,065 to ₹1,119 per share for its upcoming IPO. The offering will be a fresh issue of up to 270 million shares.
Public subscription opens on October 21 and closes on October 23. At the upper end of the price band, Jio Platforms aims to raise approximately ₹30,213 crore (about $3.6 billion), which would make it India’s largest-ever IPO.
The proceeds are intended primarily to repay debt at its subsidiary, Reliance Jio Infocomm. The shares are expected to list on Indian stock exchanges around October 28.