business π° Jio IPO set to surpass Airtel in market value
Reliance Jio is preparing for its Initial Public Offering (IPO) to raise roughly Rs 37,700 crore. This listing aims to be the largest ever in India, with a suggested price band of Rs 1,350 to Rs 1,450. Jio plans to list only about 2.9% of its stake, projecting a market valuation of $130-170 billion USD. This valuation is expected to be higher than Bharti Airtel's current $140 billion USD market cap, despite Airtel's higher ARPU. Jio's reported net profit of Rs 30,049 crore also positions it as a significantly larger player. π