Jio Platforms set a price band of ₹1,065 to ₹1,119 per share for its IPO, which would raise up to 302 billion rupees ($3.2 billion) and value the Reliance telecom unit at about $108 billion at the upper end of the band, according to CNBC. The offering of 270 million shares runs October 21 to 23 and comes in below the roughly 377 billion rupees that Prime Database had estimated. Even so, it would be the biggest Indian IPO measured in rupees, and second only to Hyundai Motor India’s $3.3 billion listing in dollars. Meta and Google, which hold close to 10% and 7.7% of Jio, aren’t selling any shares, and Reliance keeps a stake above 66%.
