Jio Platforms Targets Rs 30,200 Cr IPO, Morgan Stanley Among 19 Banks
MS sits 26% above its 52-week low of $151.84.
Summary
Jio Platforms, Reliance Industries' digital arm, is targeting a Rs 30,200 crore IPO with a price band of Rs 1,065-1,119 per share, valuing the company at up to Rs 10.3 lakh crore (~USD 106 billion). Morgan Stanley is one of 19 banks appointed to the share sale, which would be India's largest-ever IPO, surpassing Hyundai Motor India's Rs 27,800 crore issue. The subscription window is set for 21-23 October with listing expected on 28 October, though terms remain provisional. This is a significant fee opportunity for Morgan Stanley's investment banking franchise and follows its strong Q2 2026 results. The deal's size and Morgan Stanley's role as a bookrunner make it a material event for the firm's capital markets pipeline.
At the time of this announcement, MS was trading at $190.69 on NYSE in the Finance sector, with a market capitalization of approximately $298.4B. The 52-week trading range was $151.84 to $232.25. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Businessworld.