The biggest news of this time related to the Indian stock market and telecom sector is coming out. Jio Platforms, the digital and telecom arm of the country’s most valuable company Reliance Industries Limited (RIL), has officially announced the price band for its much-awaited and country’s largest IPO. This mega IPO of Jio will open at a price band of ₹ 1,065 to ₹ 1,119 per share. As soon as this big announcement came out, there was tremendous enthusiasm on Dalal Street and a strong rise of about 3% was recorded in the shares of Reliance Industries. The arrival of this historic IPO in the market has not only increased the enthusiasm of Reliance investors, but has also opened new doors of profit for millions of shareholders of the company.
This historic public issue of Jio Platforms will open for subscription on October 21 and will remain open till October 23, while big investors (anchor investors) will be able to bid for it on October 19. The total size of the issue is set to be approximately ₹30,213 crore, making it the largest ever IPO in the history of the Indian stock market. The upper price band of this IPO has been kept at ₹1,119, under which investors will have to apply for a lot of minimum 12 shares. In this way a retail investor will have to invest at least ₹ 13,428. Since the announcement of this entire process, huge buying pressure is being seen in Reliance shares.
For investors who already have shares of Reliance Industries Limited (RIL), this IPO is no less than a big gift. The company has made a provision for special share reservation (Shareholder Quota) for its shareholders and eligible employees. As per the rules, a separate quota of shares worth up to ₹2,500 crore has been reserved for eligible Reliance shareholders (individuals and HUFs). This means that people who hold RIL shares can easily get allotment in Jio’s IPO through this special quota along with the general public. Apart from this, a special discount of ₹ 54 per share has also been fixed for the employees.
In today’s era of digital, Google, Bing and modern AI search (GEO), ‘Jio Platforms IPO Price Band’ has become the most searched topic on the internet. Financial analysts believe that this IPO, coming with a valuation of about Rs 10.3 lakh crore, will completely change the direction of the Indian tech and telecom sector. Jio has a strong base of crores of customers across the country and a large network of 5G technology, due to which this investment can prove to be very beneficial for long term investors. This is a golden opportunity for Reliance shareholders to acquire direct ownership of the country’s biggest digital revolution.