Jio Platforms opened its subscription window on Oct 21, pricing the fresh issue at Rs 1,065 to Rs 1,119 per share. The 27‑million‑share offering will raise ₹30,213 crore and value the company at roughly $108 billion according to its offer document.
On Oct 20, the stock was quoted at a grey‑market premium of about Rs 245, translating to a 22% uplift over the upper band. If the listing price hits Rs 1,119, the implied GMP suggests investors are willing to pay Rs 1,364 per share.
The allotment plan reserves up to ₹2,500 crore for existing RIL shareholders and ₹500 crore for employees, leaving 35% of the net offer open to retail investors. This structure is designed to broaden participation while keeping the majority stake in the hands of the Ambani family.
Once listed on Oct 28, Jio will likely become India’s fourth‑most valuable company, trailing only RIL, Bharti Airtel and HDFC Bank. The combined RIL group market cap would rise to ₹28.5 lakh crore, eclipsing Tata’s ₹25.5 lakh crore and reshaping the top‑tier conglomerate hierarchy.
Analysts project that the listing will unlock a valuation bump for the group, with Jio’s diversified portfolio—from 5G core to cloud services—adding long‑term upside. The company’s next quarterly guidance will be closely watched for signs of accelerated growth beyond telecom.