Stories
Jio Targets 1.4-Trillion Digital Opportunity With Massive IPO
- •Jio Platforms reported an EBITDA of ₹76,000 crore, reflecting a 17.8 percent three-year growth as it prepares for a record-breaking IPO.
- •Managing Director Akash Ambani stated that Jio powers over 60 percent of India's digital growth and aims to capture significant market share in the projected $1.4-trillion digital economy by FY31.
- •The company highlighted its 5G expansion, boasting the world's largest 5G customer base outside of China and achieving the fastest 4G-to-5G migration globally.
- •Jio Platforms is set to launch a ₹30,213-crore IPO with a price band of ₹1,065 to ₹1,119 per share, poised to become India's largest public offering.
Key Questions Answered
Jio Platforms is set to raise ₹30,213 crore through an initial public offering consisting entirely of fresh shares. The price band is set between ₹1,065 and ₹1,119 per share, valuing the company at approximately ₹10.3 lakh crore at the upper end.
The IPO is expected to surpass Hyundai Motor India's 2024 issue to become India's largest public offering by fundraising. At the upper end of the price band, the offering values Jio Platforms at around ₹10.3 lakh crore, potentially making it the fourth Indian listed company to cross the ₹10 lakh crore market capitalization milestone.
The proceeds from the fresh share issue will go directly to the company rather than selling shareholders. The funds are primarily intended to support debt repayment at Reliance Jio Infocomm, helping lower interest expenses and enhance the company's financial flexibility.
