Jio Platforms IPO Targets ₹11 Lakh Crore Valuation, Opening Week Of October 19

Reliance Industries’ Jio Platforms is targeting a valuation of around ₹11 lakh crore (roughly $114 billion) as it moves toward what could become India’s largest-ever stock market listing, with the IPO expected to open in the week of October 19.

The valuation target comes in below some of the more ambitious estimates floated earlier this year, which had ranged as high as $170 billion from some bankers. A broader stock market rout in recent months has dented pricing ambitions across several large Indian IPOs, and Jio’s final figure reflects that more cautious environment. Even at the lower end, the listing would still rank among the biggest in Indian market history.

Final details on pricing, listing date, and the size of the offering are expected to be confirmed as the red herring prospectus is finalised in the coming days. Given the scale of investor interest already seen, the IPO is likely to be closely watched by retail and institutional investors alike.