Jio Platforms Sets October 21 Launch for Record $3.2B India IPO
META sits 44% above its 52-week low of $520.26 on light trading volume (0.1× avg).
Summary
Jio Platforms, the digital arm of Reliance Industries, will launch its IPO on October 21, 2026, with a price band of 1,065–1,119 rupees per share. The offering of 270 million shares is expected to raise about $3.2 billion at the upper end, valuing the company at 10.3 trillion rupees ($108.25 billion). Meta is a major foreign investor in Jio Platforms, having participated in the 2020 funding round that raised over $20.5 billion for a roughly 33% equity stake. The IPO provides a liquidity event for Meta's stake and marks a significant milestone for India's largest telecom and digital services player. The anchor investor bidding is scheduled for Monday, with the offer closing on Friday.
At the time of this announcement, META was trading at $750.27 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.9T. The 52-week trading range was $520.26 to $779.82. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.