Jio Platforms, the telecom and digital arm of Mukesh Ambani's Reliance, is aiming for a $108 billion valuation in what would be India's largest initial public offering on record, according to Reuters.
The company filed its final IPO prospectus and the offer is scheduled to open on October 21, The Hindu and Rediff reported. Bloomberg reported that the listing has already drawn more than $20 billion in bids.
The scale of investor interest reflects Jio's position in India's telecom market, which Reliance has reshaped over roughly a decade, according to The Economic Times.
If completed at the targeted valuation, the offering would rank as the biggest share sale in Indian market history, Reuters reported.
What to watch next: whether the final pricing lands near the $108 billion target when the offer opens on October 21.