Jio Platforms Ltd. is set to price its shares at 1,065 rupees to 1,119 rupees apiece in its planned initial public offering, according to people familiar with the matter.
The company is targeting a market value of as much as 10.3 trillion rupees ($107 billion), the people said, asking not to be identified because the information isn’t yet public. At the upper end of the price band, Jio’s IPO would raise about 302 billion rupees, according to Bloomberg calculations. That would keep it on track to become India’s largest-ever IPO.
The telecom and digital services arm of Reliance Industries Ltd. plans to open public subscription on Oct. 21 and close it two days later, the people said. The anchor book is scheduled to open on Oct. 19, with the shares expected to begin trading on Oct. 28, they said.
Deliberations are ongoing and details including the price range, valuation and timing could still change, the people said.
A Reliance Industries representative did not offer any immediate comments.