Jio's IPO Set to Outrank Airtel in Market Value at Debut
Jio Platforms plans to raise about Rs 37,700 crore through its initial public offering, which would be the largest ever in India. The company is listing only about 2.9% of its stake, yet its market capitalization is expected to exceed that of Bharti Airtel immediately upon listing. Reports suggest the IPO price band could be between Rs 1,350 and Rs 1,450 per share.
Jio Platforms is preparing for an initial public offering that would raise roughly Rs 37,700 crore, marking the largest IPO in India's history. The company intends to list only about 2.9% of its equity, yet analysts expect its total valuation to land between $130 billion and $170 billion immediately after listing. Bharti Airtel currently holds a market capitalization near $140 billion, placing the two telecom giants on nearly equal footing at debut.
The financial comparison extends beyond market valuation. Jio reported a net profit of Rs 30,049 crore against Airtel's Rs 13,745 crore, despite Airtel maintaining a higher average revenue per user. Jio's leadership spans both wireless and wireline segments, and the company is pursuing growth in data centers and enterprise services through Reliance Industries' infrastructure investments. Reports indicate the IPO price band may be set between Rs 1,350 and Rs 1,450 per share.
This IPO could reshape India's telecom investment landscape, giving retail and institutional investors direct access to the country's dominant operator. A successful listing may strengthen Jio's capital position for network expansion and digital services, potentially intensifying competition with Airtel. The scale of the offering could also signal broader confidence in India's digital economy, affecting market sentiment across technology and infrastructure sectors. However, the small float of roughly 2.9% may limit liquidity and create volatility for early investors.