Jio IPO roadshows draw strong global investor interest ahead of mega listing
Jio is expected to be listed by this month-end at an enterprise valuation of $143-146 billion
Jio Platforms, Reliance Industries’ digital arm, recently conducted overseas roadshows in the US, UK, Dubai, Hong Kong, and Singapore to promote its proposed public listing. Investor feedback during these events has been overwhelmingly positive, reinforcing the company's confidence in the IPO process despite current market volatility.
Jio may conduct further roadshows within India and is set to list by the end of October, with an estimated enterprise valuation ranging from $143-146 billion (or ₹12 lakh crore). Although Businessline sources could not independently verify this valuation, it may even surpass current estimates. Importantly, Jio did not include an offer-for-sale (OFS) component in its draft red herring prospectus, indicating that existing investors are not seeking to dilute their stakes at the time of the listing.
Jio's marquee investors include tech giants Google, Meta, and venture capital firm Silver Lake. The company's listing is anticipated to be the largest IPO in Indian history, surpassing Hyundai Motor India's ₹27,870-crore public offering in 2024. In market terms, analysts predict that even at a listing market capitalization of ₹13-14 lakh crore, Jio would rank among India's five most valuable listed companies.
With its current growth rate of around 20% annually, Jio's market capitalization could potentially reach ₹20 lakh crore within the next two to three years, putting it on par with the present market value of its parent company, Reliance Industries.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
