Preparations for Jio Platforms IPO are in full swing. Every day some update is coming out about the country’s biggest IPO. According to the latest information, the price band of the Jio Platform IPO could be between Rs 1,0651,119. This means that retail investors will get ample opportunities to invest in the Jio Platform IPO. The stock market has seen many ups and downs in recent times. But its impact on Jio’s IPO is yet to be seen. According to information, the company’s IPO may come around October 19. The company may be listed on the stock market at the end of the month. Let us also tell you what kind of update has come out regarding Jio Platforms IPO.

When can the IPO open?

According to people with knowledge of the matter, Jio Platforms Ltd. It priced the shares in its proposed IPO at Rs. 1,065 to Rs. 1,119 per share is preparing to hold. The company is targeting a market value of up to Rs 10.3 lakh crore, the people said. At the upper end of the price band, Jio’s IPO could fetch around Rs. 302 billion ie Rs. 30,200 crore will be collected. With this, it will go on its way to become India’s largest IPO ever.

People said that Reliance Industries Ltd. The Telecom and Digital Services Unit of India plans to open public subscription on October 21 and close it two days later. He said the anchor book is scheduled to open on October 19 and the shares are expected to start trading from October 28. Negotiations are ongoing and other details, including the price range, valuation and timing, are still subject to change, the people said. However, there is no official statement from Reliance Industries yet.

It will be the country’s largest IPO

The valuation is lower than some initial expectations, though the offer is expected to be finalized by Hyundai Motor India Ltd in October 2024. Rs. 27,800 crore is set to surpass the IPO. It will be a major test of investors’ appetite for large share sales in one of the world’s busiest markets to raise equity funds. Jio filed its draft prospectus in June for an offer of 270 million new shares, which is about 2.93 percent of the post-issue equity capital, according to Bloomberg calculations. People with knowledge of the matter said that the company had earlier paid around Rs. 11 lakh crore was being sought for valuation.

These were the first evaluation figures

Previously reported valuations were once higher in the $130 billion to $170 billion range. Since then, price expectations for many IPOs in the country have fallen due to a sell-off in Indian stocks. In June, local brokerage firm Motilal Oswal Financial Services estimated Jio’s valuation at between $115 billion and $118 billion, while Dolat Capital pegged the company’s valuation at around $110 billion. Jio has appointed 19 banks, including Kotak Mahindra Capital Company, Morgan Stanley, Bank of America Corp, Axis Capital Ltd, BNP Paribas SA and Citigroup Inc, to process the share sale.