Reliance Jio Set to Create History with India’s Biggest IPO!

The details of the Jio Platforms public issue, which investors have been eagerly awaiting, have been officially announced. According to the announcement, the Jio public issue will open on October 21 and close on October 23. Reliance Jio is set to create a record with what is expected to be the largest IPO in the country. Through this IPO, the company is expected to raise more than Rs. 30,000 crore. Reliance Industries informed the stock exchanges that it had filed the Red Herring Prospectus (RHP) on Wednesday in connection with the IPO. Shares worth Rs. 2,500 crore have been reserved for shareholders of Reliance Industries. Under the Jio IPO, a total of 27 crore equity shares, each with a face value of Rs. 10, will be issued.

Shares worth Rs. 500 crore have been earmarked for employees. The price band for Jio shares is reportedly expected to be between Rs. 1,065 and Rs. 1,119. However, this information is yet to be officially announced. So far, Hyundai Motor India Limited has held the record for the country's largest IPO. In 2024, the company raised Rs. 27,858.75 crore from the market. Although there were initial reports that the recently launched NSE IPO would surpass Hyundai's record, the company raised only Rs. 22,562.71 crore from the market, leaving it in second place. Now, the Jio IPO is set to break all records and take the top spot.