Jio Platforms revealed an IPO price band of ₹1,065 to ₹1,119 per equity share, setting the stage for a potential valuation of ₹1.1 trillion. The band was announced ahead of the October 21 subscription window, with the stock poised to open at ₹1,099 on the first day of trading.
The telecom giant posted FY24 EBITDA of ₹76,000 crore, a 12% rise YoY, and maintains 60% of India’s mobile data traffic. Analysts had projected EBITDA of ₹70,000 crore, so the company beat estimates by ₹6,000 crore, reinforcing its market dominance.
Akash Ambani highlighted 7,200 patents filed and a 19‑month 5G rollout, positioning Jio as a hard‑to‑replicate infrastructure player. The company also underscored its 43.7 GB monthly data consumption per user, indicating high engagement.
Institutional interest surged after the announcement, with Uday Kotak noting that the pricing strategy signals attractive returns. More than 50 one‑on‑one meetings were held with global investors, suggesting strong demand ahead of the Oct. 23 closing.
Looking ahead, Jio aims to capture a $56 billion enterprise services market and expand internationally as a managed services provider. It plans to list on October 23, with a closing price likely to hover near the mid‑band, setting the stage for a $1.4 trillion digital economy target by FY31.