{"id":287775,"date":"2026-10-05T16:48:45","date_gmt":"2026-10-05T11:18:45","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=287775"},"modified":"2026-10-05T16:48:45","modified_gmt":"2026-10-05T11:18:45","slug":"jio-ipo-buzz-roadshows-valuation-financials-akash-isha-ambani","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/jio-ipo-buzz-roadshows-valuation-financials-akash-isha-ambani\/","title":{"rendered":"Jio IPO Buzz: Latest After the US, UK and Dubai Roadshows by Akash and Isha Ambani, the Rs 37,000 to 37,800 Crore Issue, Valuation Estimates and the Financials Investors Are Reading"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Jio IPO buzz: roadshows done in US, UK, Dubai, HK, Singapore. Issue about Rs 37,700 cr, 27 cr fresh shares. EV talk $143-146 bn. FY26 revenue Rs 1.47 lakh cr, PAT Rs 30,049 cr.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Jio IPO buzz centres on completed roadshows in the US, UK, Dubai, Hong Kong and Singapore led by Akash and Isha Ambani, an issue of about Rs 37,000 to Rs 37,800 crore that could be a pure fresh issue of up to 27 crore shares, and an enterprise valuation said to be $143 billion to $146 billion. FY26 financials in the draft prospectus show revenue of Rs 1,46,885 crore up 14.6%, EBITDA of Rs 76,255 crore at a 51.9% margin, profit of Rs 30,049 crore and 524.4 million subscribers, with Rs 27,500 crore of proceeds going to debt repayment. On those figures the valuation is roughly 18 times EBITDA and about 43 times earnings, my arithmetic, so the pricing will decide whether the buzz turns into a good listing. Nothing is official until the red herring prospectus, expected in the week of 12 October.<\/p>\n<\/p><\/div>\n<p>Jio IPO buzz has intensified after the US, UK and Dubai roadshows, with reports that the IPO financial figures are being passed around among investors. The Reliance-backed issue, expected to be India&#8217;s biggest, is reportedly set for late October, and as the Jio IPO buzz grows the valuation talk has moved up from about $137 billion to $143 billion to $146 billion.<\/p>\n<p>If you are tracking the Jio IPO buzz, this article covers the Jio roadshow led by Akash Ambani in the US, UK, Dubai, Hong Kong and Singapore, the issue size and fresh-issue structure, the Jio IPO valuation, the Jio IPO financials with ARPU, 5G users and debt, how they compare with Bharti Airtel, what it means for Reliance Industries shareholders, and the risks. Valuation figures are from sources and my own arithmetic, and are not official.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=jio-ipo-buzz-roadshows-valuation-financials-akash-isha-ambani\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/jio-ipo-buzz-roadshows-valuation-financials-akash-isha-ambani\/#Jio_IPO_Buzz_The_Roadshows\" title=\"Jio IPO Buzz: The Roadshows\">Jio IPO Buzz: The Roadshows<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/jio-ipo-buzz-roadshows-valuation-financials-akash-isha-ambani\/#Jio_IPO_Buzz_Issue_Size_and_Structure\" title=\"Jio IPO Buzz: Issue Size and Structure\">Jio IPO Buzz: Issue Size and Structure<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/jio-ipo-buzz-roadshows-valuation-financials-akash-isha-ambani\/#Jio_IPO_Buzz_Valuation_Estimates\" title=\"Jio IPO Buzz: Valuation Estimates\">Jio IPO Buzz: Valuation Estimates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/jio-ipo-buzz-roadshows-valuation-financials-akash-isha-ambani\/#Jio_IPO_Buzz_The_Financials_Investors_Are_Reading\" title=\"Jio IPO Buzz: The Financials Investors Are Reading\">Jio IPO Buzz: The Financials Investors Are Reading<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/jio-ipo-buzz-roadshows-valuation-financials-akash-isha-ambani\/#What_the_Jio_IPO_Buzz_Means_for_Reliance_Industries_Shareholders\" title=\"What the Jio IPO Buzz Means for Reliance Industries Shareholders\">What the Jio IPO Buzz Means for Reliance Industries Shareholders<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/jio-ipo-buzz-roadshows-valuation-financials-akash-isha-ambani\/#Risks_Behind_the_Jio_IPO_Buzz\" title=\"Risks Behind the Jio IPO Buzz\">Risks Behind the Jio IPO Buzz<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/jio-ipo-buzz-roadshows-valuation-financials-akash-isha-ambani\/#What_to_Watch_Next_in_the_Jio_IPO_Buzz\" title=\"What to Watch Next in the Jio IPO Buzz\">What to Watch Next in the Jio IPO Buzz<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/jio-ipo-buzz-roadshows-valuation-financials-akash-isha-ambani\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/jio-ipo-buzz-roadshows-valuation-financials-akash-isha-ambani\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/jio-ipo-buzz-roadshows-valuation-financials-akash-isha-ambani\/#What_is_the_latest_Jio_IPO_buzz\" title=\"What is the latest Jio IPO buzz?\">What is the latest Jio IPO buzz?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/jio-ipo-buzz-roadshows-valuation-financials-akash-isha-ambani\/#Who_led_the_Jio_roadshow\" title=\"Who led the Jio roadshow?\">Who led the Jio roadshow?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/jio-ipo-buzz-roadshows-valuation-financials-akash-isha-ambani\/#What_is_the_Jio_IPO_valuation\" title=\"What is the Jio IPO valuation?\">What is the Jio IPO valuation?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/jio-ipo-buzz-roadshows-valuation-financials-akash-isha-ambani\/#What_are_the_Jio_IPO_financials_for_FY26\" title=\"What are the Jio IPO financials for FY26?\">What are the Jio IPO financials for FY26?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/jio-ipo-buzz-roadshows-valuation-financials-akash-isha-ambani\/#Is_the_Jio_IPO_a_fresh_issue_or_an_offer_for_sale\" title=\"Is the Jio IPO a fresh issue or an offer for sale?\">Is the Jio IPO a fresh issue or an offer for sale?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/jio-ipo-buzz-roadshows-valuation-financials-akash-isha-ambani\/#How_will_Jio_use_the_IPO_proceeds\" title=\"How will Jio use the IPO proceeds?\">How will Jio use the IPO proceeds?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/jio-ipo-buzz-roadshows-valuation-financials-akash-isha-ambani\/#When_will_the_price_band_be_announced\" title=\"When will the price band be announced?\">When will the price band be announced?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/jio-ipo-buzz-roadshows-valuation-financials-akash-isha-ambani\/#Is_the_Jio_IPO_a_good_investment\" title=\"Is the Jio IPO a good investment?\">Is the Jio IPO a good investment?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Jio_IPO_Buzz_The_Roadshows\"><\/span><strong>Jio IPO Buzz: The Roadshows<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Item<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Detail<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Cities covered<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">US, UK, Dubai, Hong Kong and Singapore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Led by<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Akash Ambani, Managing Director of Jio Platforms and Chairman of Reliance Jio, and Isha Ambani of Reliance Retail Ventures<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Next step<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">India roadshow in the week of 12 October after the red herring prospectus is filed<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Source of valuation talk<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Feedback from international institutional investors, according to reports<\/td>\n<\/tr>\n<\/table>\n<p>A source said Jio Platforms has completed the first leg of the IPO after the Jio roadshow abroad and has started preparing the red herring prospectus. International roadshows matter because large foreign institutions are expected to take a big part of the anchor and institutional portion, which feeds the Jio IPO buzz.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Jio_IPO_Buzz_Issue_Size_and_Structure\"><\/span><strong>Jio IPO Buzz: Issue Size and Structure<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Item<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Detail<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Issue size<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About Rs 37,000 crore to Rs 37,800 crore, or $3.8 billion<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Structure<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Pure fresh issue of up to 27 crore shares, no offer for sale<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Share of post-issue equity<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 2.9%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Implied price per share<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Near Rs 1,400, my calculation from Rs 37,700 crore and 27 crore shares<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Implied equity value<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About Rs 13 lakh crore, my calculation from the 2.9% stake<\/td>\n<\/tr>\n<\/table>\n<p>The pricing disagreement with existing investors reportedly led to the all-fresh structure, so the Jio IPO buzz is about money going into the company. A fresh issue also means that existing shareholders such as Reliance Industries, Meta and Google are not selling.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Check the Univest Screener for live data on Reliance Industries and telecom stocks<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Jio_IPO_Buzz_Valuation_Estimates\"><\/span><strong>Jio IPO Buzz: Valuation Estimates<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Estimate<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Value<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Source type<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Earlier talk<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About $137 billion<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">People familiar with the matter<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Current talk<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">$143 billion to $146 billion enterprise value, at least Rs 12 trillion<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Sources tracking the deal<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Banker view reported earlier<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up to $170 billion<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Bankers, as reported previously<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Implied EV to FY26 EBITDA<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 18 times at about Rs 96 per dollar<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">My arithmetic<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Implied price to FY26 earnings<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 43 times on Rs 13 lakh crore equity value<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">My arithmetic<\/td>\n<\/tr>\n<\/table>\n<p>These numbers are not final, so the Jio IPO valuation and the Jio IPO buzz can swing with the price band. The price band decides the actual valuation, and a lower price band than the talk would improve the case for applicants.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Jio_IPO_Buzz_The_Financials_Investors_Are_Reading\"><\/span><strong>Jio IPO Buzz: The Financials Investors Are Reading<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Metric<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">FY26<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Comparison<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue from operations<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,46,885 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 14.6% from Rs 1,28,218 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBITDA<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 76,255 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Margin of 51.9%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Profit after tax<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 30,049 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 15.1% from Rs 26,109 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Subscribers<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">524.4 million<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">5G users about 268.5 million<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">ARPU<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 214 in Q4 FY26<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 215.6 in Q1 FY27<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Return on equity<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 9.4%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Return on capital employed about 10.8%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Debt to equity<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 0.21<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Debt of about Rs 71,529 crore at Reliance Jio Infocomm<\/td>\n<\/tr>\n<\/table>\n<p>The Jio IPO financials look strong: Jio&#8217;s EBITDA margin of 51.9% compares with about 57.5% for Bharti Airtel, and its ARPU of Rs 214 compares with about Rs 257 for Airtel, per one comparison of FY26 data. That ARPU gap is the bull case in the Jio IPO buzz for tariff-led growth, and the lower return on equity of about 9.4% is the bear case on capital intensity.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track the Jio IPO and Reliance Industries live.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_the_Jio_IPO_Buzz_Means_for_Reliance_Industries_Shareholders\"><\/span><strong>What the Jio IPO Buzz Means for Reliance Industries Shareholders<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Reliance Industries owns about 66.4% to 67% of Jio Platforms, so a successful IPO marks the value of that stake and lets the market price Jio on its own. Eligible Reliance shareholders get a reserved portion in the IPO. But because the issue is only 2.9% of the equity and all fresh, analysts note that it may not deliver a windfall for Reliance shareholders on its own, a point often missing from the Jio IPO buzz.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_Behind_the_Jio_IPO_Buzz\"><\/span><strong>Risks Behind the Jio IPO Buzz<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Valuation:<\/strong> A $143 billion to $146 billion enterprise value implies about 18 times EBITDA, which leaves less room than a smaller issue.<\/p>\n<p><strong>Unconfirmed details:<\/strong> The price band, dates and allocation are awaited, so the Jio IPO buzz is built on reports.<\/p>\n<p><strong>Tariffs and competition:<\/strong> Growth depends on tariff increases and 5G monetisation against Airtel and Vodafone Idea.<\/p>\n<p><strong>Capital intensity:<\/strong> Return on equity near 9.4% shows heavy investment needs.<\/p>\n<p><strong>Market conditions:<\/strong> A weak market, with FIIs selling and the Nifty at a six-month low in early October, could delay the issue or cool the Jio IPO buzz.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_to_Watch_Next_in_the_Jio_IPO_Buzz\"><\/span><strong>What to Watch Next in the Jio IPO Buzz<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>The red herring prospectus and price band in the week of 12 October.<\/li>\n<li>Anchor investor names and size around 19 October.<\/li>\n<li>Grey market premium and subscription levels once the issue opens.<\/li>\n<li>The Jio roadshow in India and any change in valuation talk.<\/li>\n<li>Market direction after the RBI policy on 7 October.<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Jio IPO buzz is strong after roadshows in the US, UK, Dubai, Hong Kong and Singapore, an issue near Rs 37,700 crore and valuation talk of $143 billion to $146 billion, but nothing is official until the red herring prospectus. FY26 revenue of Rs 1,46,885 crore and profit of Rs 30,049 crore support the story, while the roughly 18 times EBITDA valuation sets a high bar for the Jio IPO buzz and the Jio IPO valuation. Consult a SEBI-registered advisor before making any decision.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_latest_Jio_IPO_buzz\"><\/span><strong>What is the latest Jio IPO buzz?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Roadshows in the US, UK, Dubai, Hong Kong and Singapore are done, an issue of about Rs 37,700 crore is expected, and valuation talk is $143 billion to $146 billion.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Who_led_the_Jio_roadshow\"><\/span><strong>Who led the Jio roadshow?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Akash Ambani, Managing Director of Jio Platforms, and Isha Ambani of Reliance Retail Ventures led the Jio roadshow that drove the Jio IPO buzz.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_Jio_IPO_valuation\"><\/span><strong>What is the Jio IPO valuation?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Reports say an enterprise value of $143 billion to $146 billion, at least Rs 12 trillion, but the final valuation depends on the price band.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_Jio_IPO_financials_for_FY26\"><\/span><strong>What are the Jio IPO financials for FY26?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue was Rs 1,46,885 crore, EBITDA Rs 76,255 crore, and profit Rs 30,049 crore, with 524.4 million subscribers.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_the_Jio_IPO_a_fresh_issue_or_an_offer_for_sale\"><\/span><strong>Is the Jio IPO a fresh issue or an offer for sale?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> It is reportedly a pure fresh issue of up to 27 crore shares, with no offer for sale.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_will_Jio_use_the_IPO_proceeds\"><\/span><strong>How will Jio use the IPO proceeds?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> About Rs 27,500 crore is for repaying Reliance Jio Infocomm&#8217;s borrowings, and the balance for general corporate purposes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"When_will_the_price_band_be_announced\"><\/span><strong>When will the price band be announced?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> It is expected with the red herring prospectus in the week of 12 October.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_the_Jio_IPO_a_good_investment\"><\/span><strong>Is the Jio IPO a good investment?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> This article does not constitute investment advice. Wait for the price band and valuation, and consult a SEBI-registered financial advisor.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the latest Jio IPO buzz?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Roadshows in the US, UK, Dubai, Hong Kong and Singapore are done, an issue of about Rs 37,700 crore is expected, and valuation talk is $143 billion to $146 billion.\"}},{\"@type\":\"Question\",\"name\":\"Who led the Jio roadshow?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Akash Ambani, Managing Director of Jio Platforms, and Isha Ambani of Reliance Retail Ventures led the Jio roadshow that drove the Jio IPO buzz.\"}},{\"@type\":\"Question\",\"name\":\"What is the Jio IPO valuation?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Reports say an enterprise value of $143 billion to $146 billion, at least Rs 12 trillion, but the final valuation depends on the price band.\"}},{\"@type\":\"Question\",\"name\":\"What are the Jio IPO financials for FY26?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue was Rs 1,46,885 crore, EBITDA Rs 76,255 crore, and profit Rs 30,049 crore, with 524.4 million subscribers.\"}},{\"@type\":\"Question\",\"name\":\"Is the Jio IPO a fresh issue or an offer for sale?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It is reportedly a pure fresh issue of up to 27 crore shares, with no offer for sale.\"}},{\"@type\":\"Question\",\"name\":\"How will Jio use the IPO proceeds?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"About Rs 27,500 crore is for repaying Reliance Jio Infocomm's borrowings, and the balance for general corporate purposes.\"}},{\"@type\":\"Question\",\"name\":\"When will the price band be announced?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It is expected with the red herring prospectus in the week of 12 October.\"}},{\"@type\":\"Question\",\"name\":\"Is the Jio IPO a good investment?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"This article does not constitute investment advice. 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See the Rs 37,700 crore size, valuation talk and FY26 financials.<\/p>\n","protected":false},"author":34,"featured_media":287774,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[8351,8355,1383,8352,8353,610,8354],"class_list":["post-287775","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-india-biggest-ipo","tag-ipo-valuation","tag-jio-ipo","tag-jio-ipo-buzz","tag-jio-platforms","tag-reliance","tag-roadshow"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["287774"],"rank_math_title":["Jio IPO Buzz: Roadshows, Rs 37,700 Crore Size, Valuation"],"rank_math_description":["Jio IPO buzz after roadshows by Akash and Isha Ambani: Rs 37,700 crore size, a $143 billion valuation talk and FY26 financials. 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