Meta- and Google-backed Jio Platforms, India's largest telecom operator, plans to raise up to 302 billion rupees ($3.2 billion) by selling 270 million shares priced between 1,065 and 1,119 rupees, with the offering running from October 21 to 23. It would be India's largest IPO in rupee terms but second largest in dollar terms, behind Hyundai Motors' $3.3 billion IPO in 2024. Prime Database had expected Jio to raise around 377 billion rupees, but at the top of the price range the company is valued at about $108 billion, well below earlier expectations. Deven Choksey of DRChoksey Finserv told CNBC that Jio is at its core a telecom company earning most revenue from selling internet data, and at its current price it would be valued below Bharti Airtel, which has a market cap of $117.5 billion. Reliance Industries holds over 66% of Jio, Meta and Google will not sell their stakes, and Jio plans satellite services with around 1,600 LEO satellites and 23 ground stations, amid Elon Musk's accusation that Ambani is blocking Starlink's launch in India.
Summary written by Upside AI from the original article. Read the source for full details.
Related tickers and likely impact
GOOGL
• NeutralAlphabet Inc. (Class A)
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.3T |
| Close on 10/14/2026 | 347.64 |
| Change that session | -1.74% |
META
• NeutralMeta Platforms
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.9T |
| Close on 10/14/2026 | 737.54 |
| Change that session | -3.27% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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