₹30,213 crore Jio Platforms IPO, the biggest in Indian history, opens for subscription on Wednesday, Oct 21.
Navneet Munot, MD & CEO of HDFC AMC, praised the depth of India’s capital markets, noting that the mega‑IPO signals that the market can absorb massive capital even as foreign net sellers remain active.
Munot added that the government’s willingness to review taxation—including LTCG and STT—could further ease foreign participation, a factor that may help sustain demand for Jio’s shares.
Despite a global liquidity shift, the AI sector is pulling $200 billion of borrowing this year, up from $20 billion two years ago, underscoring the appetite for tech‑driven growth.
Analysts expect the subscription to be oversubscribed, potentially pushing the issue price above ₹1250 per share, but the exact pricing will hinge on market demand and the RBI’s stance on interest rates.
The IPO’s success could set a precedent for other tech firms, but the overall market sentiment remains tempered by the foreign investors’ net selling and the need for a clearer tax regime.