Reliance Industries' telecom digital arm Jio Platforms is gearing up for one of the largest initial public offerings (IPOs) in the history of the Indian stock market. The company is preparing to go public at a valuation of around Rs 11 lakh crore ($114 billion). If all goes according to plan, the IPO process is likely to begin in the week commencing October 19 and the listing is likely to be completed by October 30.

If it is listed on the stock market at this valuation, Jio Platforms will become the third largest listed company in the country. Currently, Reliance Industries, Bharti Airtel and HDFC are in the top three. Jio is likely to raise around $3.4 billion (about Rs 28,000 crore) through this IPO. If this happens, Jio will surpass the recent record set by Hyundai Motor India IPO ($2.9 billion) and become the country's largest IPO in terms of fundraising. Although

previous estimates of Jio's valuation ranged from $130 billion to $170 billion, the company is reportedly moving forward with realistic estimates in view of the current market conditions. In the wake of the current weak sentiment in the stock markets, which is affecting the prices of several IPOs, Jio has also revised its valuation.